Auto Finance News provides the latest updates and insights on the auto finance industry, including fraud cases, financing trends, and program developments.

Nov 26, 2024 · As we approach 2025, the auto lending landscape is poised for a significant shift, driven by the Federal Reserve ‘s interest rate reductions in the latter half of 2024. These rate cuts are expected to sow the seeds for a bump in auto loan refinancing activity, presenting both opportunities and challenges for lenders in the coming year.

Jan 2, 2025 · Auto lenders have faced a year marked by affordability challenges, regulatory oversight and the need for innovation to be competitive. Some players scaled back while others implemented technology to find efficiencies in funding and servicing. The following are Auto Finance News’ five most-read ...

Oct 11, 2024 · Wells Fargo and Volkswagen Financial Services entered a multiyear, co-branded agreement in the third quarter. “In the first half of 2025, we will be the preferred purchase financing provider for Volkswagen and Audi brands in the United States,” Wells Fargo Chief Executive Charlie Scharf said during the bank’s Q3 earnings call today.

Oct 16, 2024 · TD Auto Finance will pull back on commercial auto lending and other less profitable portfolios after being hit last week with $3.1 billion in fines related to money laundering charges from the U.S. Department of Justice and the Financial Crimes Enforcement Network.

Sep 18, 2024 · As the dog days of the sweltering summer heat begin fading into the rearview mirror and the fall color palate appears in the windshield, it seems like a good time to review earlier expectations of the automotive industry and how to prepare for the rest of the year.

Jan 2, 2025 · Auto loan rates on new and used vehicles fell year over year in December following the third consecutive rate cut from the Federal Reserve. For new vehicles, the national average interest rate on a 60-month loan was 7.83% as of Dec. 23, 2024, down 35 basis points (bps) YoY compared with data from Dec. […]

Oct 15, 2024 · Auto Finance News presented trophies to four winners at the 20th edition of the Auto Finance Excellence Awards this year at the Auto Finance Summit in Las Vegas on Tuesday, Oct. 8.. The annual awards recognize exceptional contributions in leadership, technology, operations, strategy and community service within the industry.

Jan 13, 2025 · As interest rates ease from record highs, increased auto refinancing could cut into finance and insurance profits for dealers. Dealers are more likely to lose out on F&I revenue when an auto loan is refinanced since products like guaranteed asset protection (GAP) are tied to the loan, not the vehicle, Brian Jones, chief executive of […]

Dec 31, 2024 · Auto Finance News each month takes a deep look at topics defining the auto finance industry. These features provide a comprehensive analysis of emerging and established trends that serve to educate industry leaders and inform management strategies. Affordability was a prevailing theme this year ...