SubprimeJIM HENRY Subprime scrutiny could open a real can of worms 12:01 am U.S. ET | May 8, 2013  Here's a disturbing thought: As much as the Consumer Financial Protection Bureau has upset auto lenders and dealers, it hasn't even gotten around to the vast category of subprime auto lending.... Read More »
Auto loans delinquent 60 days or more edge up 1:16 pm U.S. ET | Feb. 21, 2013 The number of auto loans delinquent 60 days or more ticked up in the fourth quarter compared with the same quarter a year earlier, and it was the first quarterly increase for such loans in three years, according to Experian Automotive.... Read More »
BEST PRACTICES Dealer pitches loans to win subprime sales 12:01 am U.S. ET | Sept. 24, 2012  The Suburban Collection, a Detroit-area auto dealership group, has energized sales to customers with subprime credit by recasting a Web site and boosting online marketing.... Read More »
JIM HENRY GM Financial poised to strengthen subprime lending 12:01 am U.S. ET | Sept. 12, 2012  So, how good is business for GM Financial? It set a record-low cost of funds last week, paying just 1.5 percent interest on an asset-backed securities transaction.... Read More »
Dealers pump subprime sales with Web leads 12:01 am U.S. ET | Sept. 10, 2012  Dealers are gobbling up finance leads generated by Web sites that help many subprime car shoppers determine what they can afford. Auto Credit Express, a major supplier of subprime finance leads, is enjoying strong demand, said Rich LaLonde, president of Auto Credit Express and owner of two Kia dealerships, all in suburban Detroit.... Read More »
FINANCE & INSURANCE Subprime time 12:01 am U.S. ET | Sept. 10, 2012  Lenders are increasingly saying yes to credit-challenged customers. During the first quarter of 2012, vehicle loans to subprime borrowers increased by 11 percent, according to Experian Automotive.... Read More »
FINANCE & INSURANCE Subprime lenders rising after recession-era cuts 12:01 am U.S. ET | Sept. 10, 2012 Independent subprime auto lenders are on the rise, propelled by several positive factors that yield them more money to lend. Several independents report they are signing up franchised new-car dealers across the country.... Read More »
FINANCE & INSURANCE AutoNation's pilot subprime unit rescues deals in South Florida 12:01 am U.S. ET | Sept. 10, 2012  AutoNation Inc. will expand a pilot program that is rescuing about 13 percent of the retailer's rejected subprime deals in South Florida.... Read More »
Lenders to dealers: We'll take the deal 12:01 am U.S. ET | Sept. 3, 2012 After the collapse of credit in the recession, lenders have returned strongly to financing auto sales. Car dealers are finding lenders eager to finance their deals, including subprime loans. In fact, so many auto lenders are trying to sign up to buy indirect loans from Findlay Automotive Group in Henderson, Nev., that it's almost a nuisance.... Read More »
JIM HENRY Bad loans spell good news for dealers 12:01 am U.S. ET | Aug. 8, 2012  Good news for dealerships: Credit losses are set to increase from historic lows. Why is that good news? It means lenders are approving more subprime loans, something dealers have wanted.... Read More »
JIM HENRY When will subprime season peak? 12:01 am U.S. ET | June 6, 2012  Here's a possible wet blanket on the comeback in subprime loans, at least in the short run: The peak season for subprime loans is usually over once tax-return season ends.... Read More »
Subprime's comeback fuels Chrysler sales 12:01 am U.S. ET | June 4, 2012  The dramatic comeback of subprime loans has helped the entire industry recover from the recession, but easier credit has returned like an old friend to Chrysler Group. In the first quarter of 2012, 29 of every 100 new-auto loans for Chrysler vehicles have been to consumers with credit scores below 680, says credit agency Experian Automotive. Experian considers scores below 680 subprime.... Read More »
JIM HENRY Subprime tarnish fades, finally 12:01 am U.S. ET | May 23, 2012  Dealers have complained for a couple of years now about how long it's taking for subprime auto lending to bounce back. Sure, the U.S. economy isn't growing as fast as we'd all like. But really, what's taking so long?... Read More »
JAMIE LaREAU Prime customers are in the mood to shop again 12:01 am U.S. ET | May 23, 2012  ... Read More »
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