Uber is ready to sell off its two-year-old Xchange leasing program, according to multiple reports. Earlier in 2017, Uber announced it was planning on ending the program due to heavy losses. While the company had previously estimated losses averaging nearly $500 per car, new revelations place that...Read More»
So, we have bad news and bad news. Which would you like first? Fine, we'll start with the bad news. The U.S. auto market is cooling off. April's light vehicle sales were down 4.7 percent compared to those of April 2016, and year-to-date sales are off 2.4 percent across the board. Nearly all...Read More»
Ever had the feeling you were being watched? If you've taken out an auto loan in recent years, your hunch may have been correct, and now, the U.S. government is investigating. It's not uncommon for lending institutions to require that borrowers equip their new vehicles with GPS devices and other...Read More»
If the thought of debt unnerves you, may we suggest skipping ahead to the next article? Because this news could send you right into a panic attack. There's no way to sugar coat it, so we're just going to come out and say it: Americans owe $1 trillion in car loans for the first time ever. How did...Read More»
Remember the Great Recession? It upended the world less than a decade ago, but already, some folks seem to have forgotten its lessons. And according to the financial blog Zero Hedge, we may be doomed to repeat them. If you're not familiar with Zero Hedge, it's well worth a look. It's written...Read More»
When last we spoke of repo (wo)men, we spoke of how they're using license plate readers to find folks who are late on loan repayments. (As if stalking people on Facebook weren't bad enough.) But wait, it gets worse: according to the New York Times, if you're a subprime borrower -- generally...Read More»
Car sales are booming, and banks are doing brisk business in auto loans, especially subprime loans for borrowers with poor credit or no credit at all. That has many analysts worried that we're seeing a bubble in the subprime market -- that same sort of bubble that burst in 2007/2008 and helped hurl...Read More»
You’ve likely all seen the late-night TV ads from used-car lots—pushing loans for which they say anyone with a job can qualify. But hold on; don't yet sign your life's possessions over on contingency to some guy in a Hawaiian shirt who says he is the bank. Even if you have a blemished...Read More»
There's good news and bad news on the automotive front. The good news is for auto shoppers: according to Experian Automotive, the average interest rate for U.S. car loans fell to 4.27 percent in the third quarter of 2013. That's the lowest rate Experian has recorded since it began tracking interest...Read More»
Earlier this week, we offered a rundown on auto sales for March. While we were very happy to see a number of manufacturers set new records, we were a little concerned that some of the market's strength might be due to an easing of credit restrictions. After all, we remember where that got us last...Read More»
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»
