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Financial Solutions
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ABA upbeat about Q1 delinquency rates
WASHINGTON, D.C. — Auto financing metrics within the American Bankers Association’s latest Consumer Credit Delinquency Bulletin showed mixed movement in the first quarter as the overall reading prompted the assessment that consumers continued to manage their finances responsibly.

Delinquencies settled lower in seven of the 11 individual loan categories compared to the previous quarter, according to the ABA report that defines a delinquency as a payment that is 30 days or more overdue.

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Consumers less likely to complete longer-term loans

CHICAGO — Jason Laky, senior vice president and automotive business leader for TransUnion, explained that there are generally two reasons why consumers would want to take on a longer-term vehicle installment contract. One reason can be a positive for a finance company; the other motive perhaps not so much.

“One is that they plan to hold onto the car for a longer period of time so the term of the loan matches the useful life of the vehicle. And that’s a good thing,” Laky said.

“There’s another set of consumers that extended terms are the only way in which to get a payment they can afford. And that’s a little riskier for a lender,” he continued.

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Auto Loan Defaults Move Marginally in March
NEW YORK — As analysts offered some assessments of what moves the Federal Reserve might make, data through March generated by S&P Dow Jones Indices and Experian indicated auto loan default ticked lower on a sequential basis but edged up slightly year-over-year.

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WALTHAM, Mass. – Dec. 22, 2014 – DealerRater, the car dealer review website for consumers, announced today it has partnered with AutoTrader.com to bring dealership reviews to the car shopping website. As the ultimate automotive marketplace™, AutoTrader.com attracts over 18 million unique visitors each month to more than four million car listings. This new integration enables car shoppers who visit AutoTrader.com to gain added confidence and insight for choosing the right car dealership.

We Turn Auto Notes Into Cash!!

Service Contract Firm Expands HQ
GWC Warranty announced the expansion of its headquarters.
GWC’s facility has been expanded to almost 20,000 square feet. The new space was built adjacent to the existing area in Coal Street Park in Wilkes-Barre, Pa. Officially unveiled Dec. 17, the new 3,000-square-foot area features numerous workstations and private offices.

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ARLINGTON, Texas (Oct. 23, 2014) --  On Oct. 20, the National Highway Traffic Safety Administration issued an urgent advisory to the owners of some 7.8 million cars throughout the United States about a massive recall for defective airbags.
 
The recall affects cars from 10 manufacturers that used Takata airbags in various vehicles spanning model years 2000 to 2011. It impacts some of the most popular used vehicles on the market, including Dodge Ram trucks, Ford Mustangs, Subaru Outbacks and Legacies, Toyota Corollas and Nissan Maximas, Pathfinders and Sentras. Honda was the manufacturer most affected with more than 5 million recalled vehicles, including Accords, Civics, CR-Vs, Elements and Odysseys.
 
NHTSA said the problem seems to be related to consistent exposure to heat and humidity, making vehicles in the South more susceptible to the airbag failures. But the agency also said its investigation is ongoing, which means other factors could be involved – and that there could be even more recalls in the near future.

Check to see if your car is involved
www.safercar.gov/vinlookup.  
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