Nov 22, 2017: Santander has agreed to pay Thomas Dundon, the former head of its US sub-prime auto lending business, Santander Consumer USA, more than $700m in an exit deal which has taken over two years to agree. Dundon, who founded the company in 1995, left th...

 

Nov 22, 2017: Despite the rise in online car buying and financing platforms, dealers retain their role as a crucial part of vehicle purchases, according to research by J. D. Power. The automotive consultancy’s 2017 US Sales Satisfaction Index Study shows that w...

 

Nov 15, 2017: The US Consumer Financial Protection Bureau (CFPB) has released a report on auto loan trends that found a sharp increase in riskier longer-term auto loans, with a move towards wider adoption of six-year paybacks. According to the report, 42% of au...

 

Nov 07, 2017: Record sales in the Canadian auto loan market are being supported by increases in leasing rather than direct lending, according to research from Scotiabank. Leases represented just 9% of the Canadian retail new vehicle market in 2009, at the heigh...

 

Nov 07, 2017: The average transaction price of a new vehicle in the US hit a record $35,428 in October, up 2% on the previous year and 12% on October 2012, according to Edmunds, the car shopping and information platform. The average down payment on a ...

 

Oct 31, 2017: The Consumer Financial Protection Bureau (CFPB) has outlined principles for protecting consumers when they authorize third-party companies to access their financial data to provide certain financial products and services, which will be significant ...

 

Oct 31, 2017: Ally Financial has reported auto lease portfolio declines in its third quarter results for the year, with pre-tax income down by $19 million on the previous year, at $300 million. Auto originations for the quarter totaled $8.1 billion, down from $...

 

Oct 30, 2017: Ford Credit is predicting full-year 2017 pre-tax profits to exceed $2 billion after a strong performance during Q3. It reported that receivables grew globally, led by retail financing, while stronger than expected auction values are supporting lea...

 

Oct 25, 2017: Fintech start-up Fair, which offers a fully-digital, flexible leasing app, has announced it is closing a strategic funding round led by BMW i Ventures that includes investments from Penske Automotive Group and other strategic investors. Fair plans...

 

Oct 24, 2017: Auto fintech disruptor Cazana has held talks with potential investors and customers in the US as part of expansion plans that could more than triple its size. Cazana is currently the UK’s largest car search and indexing engine for used cars, havin...