US tariff uncertainty delays economic ‘power’ Lutnick predicted - Auto Finance News
President Donald Trump’s latest legal setback on tariffs increases uncertainty for American importers while delaying economic dividends| Auto Finance News
Outlooks were mixed among subprime lenders in the second quarter, with some concerned about consumer affordability, while others were optimistic amid interest rate tailwinds. Fewer subprime and deep subprime customers took out auto loans or leases in the second quarter, according to Experian data published Aug. 28. The share of customers with subprime or deep […] The post Subprime lender sentiment mixed amid market share dip appeared first on Auto Finance News.| Auto Finance News
The national average for interest rates for new- and used-vehicle loans declined in August as the Federal Reserve teased a rate cut was coming this month amid growing economic strain. The national average interest rate on a 60-month loan for used cars saw the largest decline with a 26-basis points (bps) year-over-year drop to 7.75% […] The post Used-vehicle interest rates drop 26 bps in August (Big Wheels) appeared first on Auto Finance News.| Auto Finance News
Many auto finance apps allow consumers to search for vehicles and manage payments, but they fall short when it comes to providing an engaging user experience long term. Broadly, auto lender apps fall into two buckets: car-shopping tools and loan-management applications. But they lack features to keep customers coming back day after day. Take the […] The post Gaming elements boost app stickiness (Under the Hood) appeared first on Auto Finance News.| Auto Finance News
Powersports Finance News is pleased to announce that Dan Onak, senior vice president of risk management at Evergreen Bank, will join Powersports Finance Summit 2025, taking place Sept. 23-24 at the Sonesta in downtown Columbus, Ohio. Onak joined Evergreen Bank, the parent company of powersports divisions FreedomRoad Financial and Performance Finance, in 2014 and has […] The post FreedomRoad’s Dan Onak joins Powersports Finance Summit 2025 appeared first on Auto Finance News.| Auto Finance News
Bank of America’s auto originations climbed in the second quarter as the bank eyes strategic growth across its three business lines in auto. Originations rose 26.2% year over year and 25.5% quarter over quarter to $7.6 billion in Q2, Tim Owens, head of consumer vehicle lending, told Auto Finance News. Bank of America’s auto portfolio […] The post Bank of America’s auto originations jump 26% appeared first on Auto Finance News.| Auto Finance News
Auto Finance News is pleased to announce that GM Financial Executive Vice President and Chief Information Officer Chitra Herle will join a discussion on identifying future digital opportunities during Auto Finance Summit 2025, taking place Oct. 15-17 at the Bellagio Las Vagas. View the full event agenda here. Herle has more than 20 years of […] The post GM Financial EVP, CIO Chitra Herle joins Auto Finance Summit 2025 appeared first on Auto Finance News.| Auto Finance News
Bank of America is among the auto financiers expecting a strong third quarter for EV sales as consumers pull their purchases forward amid the elimination of the federal EV tax credit at the end of the month. “With the tax credit going away on Sept. 30, we anticipate EV volume pulling forward into Q3, not […] The post Banks, captives anticipate EV pull-ahead into Q3 amid credit expiration appeared first on Auto Finance News.| Auto Finance News
Big banks are positioning themselves as technology companies — and they have the patent portfolios to prove it. Investments in technology in the past decade have “made banks key players in the technology ecosystem,” Rocky Berndsen, head of patent analytics at patent preparation and prosecution firm Harrity & Harrity, told Bank Automation News, an Auto Finance News sister […] The post Inside Capital One Auto’s innovation, patent strategy appeared first on Auto Finance News.| Auto Finance News
Powersports Finance News is pleased to announce that Chris Friedman, partner at law firm Husch Blackwell, will join a discussion on the powersports compliance landscape at Powersports Finance Summit 2025, taking place Sept. 23-24 at the Sonesta in downtown Columbus, Ohio. View the full event agenda here. Friedman has been a legal adviser for more […] The post Husch Blackwell’s Chris Friedman join Powersports Finance Summit 2025 appeared first on Auto Finance News.| Auto Finance News
President Donald Trump’s latest legal setback on tariffs increases uncertainty for American importers while delaying economic dividends| Auto Finance News
Leasing slowed in the second quarter as consumers prioritized cash purchases and looked to refinancing to manage affordability, but credit unions expect leasing to grow in the next six months. The percentage of new vehicles leased fell 250 basis points (bps) year over year to 23.62% in the quarter, according to Experian’s Q2 State of […] The post New-vehicle leasing drops 250 bps in Q2 appeared first on Auto Finance News.| Auto Finance News
Powersports Finance News is pleased to announce that ThunderRoad Financial Chief Executive Donal Hummer and Chief Operating Officer Kristi Mercier will join discussions on lender-dealer needs and vehicle sales trends at Powersports Finance Summit 2025, taking place Sept. 23-24 at the Sonesta in downtown Columbus, Ohio. Hummer launched powersports lender ThunderRoad Financial in 2014 and […] The post ThunderRoad’s Hummer, Mercier join Powersports Finance Summit 2025 appeared first on Aut...| Auto Finance News
The US economy expanded in the second quarter at a slightly faster pace than initially estimated on a pickup in business investment and an outsize boost from trade. Inflation-adjusted gross domestic product, which measures the value of goods and services produced in the US, increased at a 3.3% annualized pace, the second estimate from the […] The post US economy expands at revised 3.3% rate on stronger investment appeared first on Auto Finance News.| Auto Finance News
Volvo Car is the newest automaker to offer insurance with the goal of supporting all steps of the car-buying process. Volvo Car Insurance Services launched Aug. 20 and is a licensed insurance agency that offers auto, home, umbrella and specialty product coverage, according to a company release. The company is working with providers that underwrite […] The post Inside Volvo Car Insurance Services’ launch appeared first on Auto Finance News.| Auto Finance News
Auto Finance News is pleased to announce that Tim Owens, head of consumer vehicle lending at Bank of America, will join the executive panel discussion at Auto Finance Summit 2025, returning Oct. 15-17 at the Bellagio Las Vegas. Owens is a 14-year veteran at Bank of America, and his career spans more than 35 years […] The post Bank of America’s Tim Owens joins Auto Finance Summit 2025 appeared first on Auto Finance News.| Auto Finance News
TD Auto Finance‘s originations and portfolio grew in the bank’s third quarter, while the company also invested in additional anti-money laundering technology. TD Bank’s U.S. indirect auto outstandings came in at $31.1 billion, up 1.6% year over year and quarter over quarter, according to the bank’s earnings presentation for the quarter ended July 31. The […] The post TD Auto Finance’s portfolio rises 1.6% YoY in FY Q3 appeared first on Auto Finance News.| Auto Finance News
Auto insurance is taking up more of consumers’ income and could contribute to a decline in vehicle purchases. The average annual insurance premium nationwide rose 18% year over year to $2,567 in August, or about $213.92 a month, according to Aug. 26 data provided to Auto Finance News by The Zebra, an insurance comparison site. […] The post Average auto insurance costs jump 18% YoY appeared first on Auto Finance News.| Auto Finance News
Credit unions are cautiously optimistic as auto portfolios grow, but inflationary pressures, tariffs and tightened standards are expected to dampen vehicle sales. While interest rates have been steady and could come down as soon as next month — a positive driver of consumer demand in the back half of the year — a limited supply […] The post Credit unions ‘cautiously optimistic’ on auto growth appeared first on Auto Finance News.| Auto Finance News
August new-vehicle sales are expected to jump as long-term demand climbs on the heels of incentives and delayed price hikes from tariffs. Cox Automotive forecasts that 1.5 million new vehicles will be sold in August, up 2.3% year over year and 3.9% month over month, according to data published today. The elevated sales come as […] The post New-vehicle sales projected to rise 2.3% in August appeared first on Auto Finance News.| Auto Finance News
Powersports Finance News is pleased to announce that HorsePower Financial Services Chief Executive Chris Garrido and Chief Financial Officer Laura Middendorf will join discussions on financing processes and relationships between lenders and dealers at Powersports Finance Summit 2025, taking place Sept. 23-24 at the Sonesta in downtown Columbus, Ohio. Garrido has led motorcycle leasing company […] The post HorsePower’s Garrido, Middendorf join Powersports Finance Summit 2025 appeared f...| Auto Finance News
Rebates on 2025 and 2024 model year vehicles were the most popular powersports incentives in August, as manufacturers began introducing new models. While incentives stayed largely consistent year over year, manufacturers Bombardier Recreational Products, CFMOTO and Polaris increased or introduced rebates on some products, according to a BMO Capital Markets note published Aug. 25. Dealers […] The post Rebates lead powersports incentives in August appeared first on Auto Finance News.| Auto Finance News
Used-EV values have climbed as the federal tax credit expiration date approaches, creating uncertainty around demand. The Exponential Used Electric Vehicle Index landed at 93.26 as of Aug. 24, up 0.7% year over year and 1.2% month over month, according to the latest Big Wheels Data. The index measures the wholesale price of used EVs […] The post Used-EV values up 1% ahead of tax credit expiration (Big Wheels) appeared first on Auto Finance News.| Auto Finance News
Auto Finance News is pleased to announce that Richard Corthell, chief compliance officer at BMW Financial Services, will join a discussion on evolving regulatory oversight in auto finance during Auto Finance Summit 2025, taking place Oct. 15-17 at the Bellagio Las Vegas. View the full event agenda here. Corthell leads BMW Financial’s compliance department and […] The post BMW Financial Services chief compliance officer Richard Corthell joins AFS 2025 appeared first on Auto Finance...| Auto Finance News
The 25th annual Auto Finance Summit returns Oct. 15-17 to the Bellagio Las Vegas, marking a milestone for the premier event in auto lending and leasing. This year’s Summit will celebrate 25 years of industry leadership with special anniversary receptions, interactive activities, and giveaways, alongside a robust agenda featuring C-suite keynote speakers, targeted workshops, and niche networking lounges. Headlining the […] The post Celebrating 25 Years of Auto Finance Leadership ...| Auto Finance News
The IRS has made it clear that lenders and dealers must ensure customers sign contracts and make a down payment toward purchasing EVs by Sept. 30 to take advantage of the federal EV tax credit before it expires. Acquisition of an EV by Sept. 30 must include a written, binding contract and a nominal down […] The post What you need to know about the expiring EV tax credit appeared first on Auto Finance News.| Auto Finance News
Federal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for the labor...| Auto Finance News
Delinquencies climbed across auto loans in the second quarter, but at a lower rate than a year ago, as student loan repayments...| Auto Finance News
Banks grew their market share of used- and new-vehicle financing in the second quarter as credit unions and captives saw used share shrink,..| Auto Finance News
Husch Blackwell’s Chris Friedman join Powersports Finance Summit 2025 | Auto Finance News
Underlying US inflation accelerated in July to the strongest pace since the start of the year, though a tepid rise in goods prices...| Auto Finance News
Auto Finance News is the nation’s leading source for news, insights and analysis on automotive lending and leasing.| Auto Finance News
Falsified income, employment and identities have caused credit unions to lose millions to fraud in the past three years.| Auto Finance News
