Center for Responsible Lending finds Hispanic and black car buyers receive higher interest rates on loans financed through dealerships.
A couple of key stats offer a glimpse of where credit unions may need to continue to look when targeting car shoppers.
Despite attempts to negotiate at dealerships, Hispanic and black car buyers pay higher rates according to CRL report.
Credit reporting agency credits lenders' risk assessment, portfolio management and credit availability for record numbers of auto loan originations.
This Opinion piece looks at how advanced Web and mobile payment tools are needed to meet growing, changing consumer demand.
Company settles for $3.5 million; two senior executives agree to pay $135,000.
As the prices for new and used cars edge higher, more consumers are opting to ride off the dealership’s lot in a leased vehicle.
Option's popularity could impact credit union auto loan origination.
In another effort to drive in more business, some auto lenders, including credit unions, may be more willing to be flexible with credit-challenged consumers.
Since 2009, auto finance companies have increased their lending by more than 47%.