Automakers extend $7,500 EV discount after federal subsidy expires
General Motors Co., Hyundai Motor Co. and Ford Motor Co. said they would extend discounts on certain electric models after…
Fifth Third Bank faces $200M in provisions from Tricolor ‘fraud’
Fifth Third’s auto portfolio grew in the third quarter, despite the potential loss of millions following subprime lender Tricolor Holdings’…
House bill introduces $2,500 car loan interest tax deduction
Michigan Republican Bill Huizenga has introduced a bill in the House of Representatives seeking to make auto loan interest tax…
Auto lenders embrace AI to balance risk and reward
Panel of auto finance executives at Auto Finance Summit East 2024 (Photo/Jeremy Harris Stills + Motion) Whether increasing deal efficiency…
About 400 powersports retail closures anticipated for 2025
Elevated new-vehicle inventory and weakened demand are likely to drive about 400 powersport dealerships to close their doors in 2025. …
Tariffs could eliminate cars priced under $30K
ORLANDO, Fla. — When proposed tariffs kick in April 2, affordable vehicles will become harder to find. Not only are…
Carvana originations rise 44.1%
Carvana’s originations rose in the first quarter as the company prioritized growth and used-vehicle retail sales increased. Originations totaled $2.7…
Axis originations down 49.6% YoY amid sale plans
Axis Auto Finance’s originations declined in the first quarter of fiscal year 2025 as credit performance worsened and the company…
CarMax Auto Finance originations fall 9%
CarMax Auto Finance’s originations and penetration rate declined during the third quarter of its fiscal 2024 as the financier tightened…
TD to pay $3.1 billion in money laundering case, face asset cap
Toronto-Dominion Bank will pay almost $3.1 billion in fines and other penalties and face a cap on its US retail…
Alloya Corporate Federal Credit Union issues first ABS deal
Alloya Corporate Federal Credit Union issued its first asset-backed securitization deal — backed by prime auto loans — as its…
Upcoming election drives uncertainty in the auto industry
Auto dealers and consumers expect the Nov. 5 U. .S. presidential election to influence top-of-mind economic issues such as inflation…
2 ways AI can assist lenders with compliance
Artificial intelligence can help auto lenders streamline compliance while making operations more efficient. Here are two ways lenders are employing…
Tricolor trustee plagued by payment challenges, potential fraud
Wilmington Trust, National Association, a subsidiary of M&T Bank, as trustee for Tricolor Auto, is responsible for facilitating payments and…
RumbleOn F&I revenue drops 8.4%
RumbleOn’s finance and insurance revenue continued to decline in the second quarter ahead of the powersports retailer’s rebrand to RideNow….