Data show slow growth for banks and some record volume in credit union space.
In first quarter 2012, credit unions had 16.7% market share compared to 15.5% for finance companies, 10.7% at buy here/pay here lots.
Demand for new cars and light trucks pushed auto loan originations to $69.6 billion in January and February, most since 2009.
Henderson, Nev., facility has showroom that can accommodate up to 200 vehicles and is nearly 10 times the size of its predecessor.
Interest rates may not be as important as response to potential borrower. (Check out the graphic at the bottom!)
The Chatsworth, Calif.-based CUSO said its first quarter profitability increased 29% over the same period last year.
Partners launch new member auto research and buying website for Canadian market.
Vehicle loan portfolio expansion continues to be the driving force behind credit union loan growth, CUNA Mutual Group says.
Average new car cost is now $31,000.
Survey at GAC finds more than half of respondents saying auto presents greatest loan growth potential.