lenders

Ally Pays $98 Million To Settle Racial-Bias Lending Probe: Will This Simplify Your Next Auto Loan?
Ally Pays $98 Million To Settle Racial-Bias Lending Probe: Will This Simplify Your Next Auto Loan?

The Consumer Financial Protection Bureau recently investigated auto lender Ally Financial amid concerns that the company regularly charged higher interest rates to non-white borrowers. According to AutoNews, Ally has now agreed to cough up $98 million to settle the probe. Could this make things...Read More»

Auto loan
Are America's Auto Lenders Discriminating Against Minorities?

In 1974, the United States enacted the Equal Credit Opportunity Act, which "prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance." But nearly 40 years after that law went into effect, some institutions...Read More»

money
Experian: Auto Credit Continuing To Loosen, Loan Amounts Up

To get the vehicle you want, and the right credit terms, having a high credit score has been extremely important over the past couple of years. With credit tight, lots of consumers who would have been green-lighted in the past have been simply turned away—or pointed toward high-risk lenders...Read More»

money
Vehicle Affordability Up, Despite Finance Crunch, Lower Incomes

Despite rising costs of financing and falling household income, cars are more affordable than they were this past winter and spring. That's what Comerica Bank found in its latest Auto Affordability Index, which looked at vehicle purchase price, household income indicators, and other factors for the...Read More»

money
Auto Lenders Warming Up To Lower Credit Ratings

If you've been to the dealership earlier this year and weren't at all pleased with the finance terms offered, you might want to give it another try. Auto lenders are loosening up once again, especially on new-car loans, and have started to extend loans to those with more blemished credit histories...Read More»

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