Dealers chosen because of survey ratings from members and total auto loan production they generated for SCCU.
Making good on its word to track concerns such as questionable interest rates and discrimination, the Consumer Financial Protection Bureau recently sent a stern message that it is monitoring auto lenders’ activities.
Boca Raton, Fla.-based credit union to offer services of AutoNation Direct.
There are more signs that consumers are back at the dealerships where they’re not only buying new vehicles but signing leases as well.
An increase in delinquencies among subprime borrowers has been the primary driver behind a rise in the national auto loan delinquency rate.
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!)