Auto Finance News

Auto Finance News serves as the premier publication for the auto finance sector. Established in 1996, it stands as the top source for news, insights, and analysis related to automotive lending and leasing in the country. Packed with essential data and unique market insights, this subscription service offers a monthly newsletter and a weekly email update, helping subscribers enhance their performance.

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Used-vehicle loan rates fall 32 basis points (Big Wheels)

1 week ago | autofinancenews.net | Truth Headlam

By Truth Headlam National average loan rates for new and used vehicles continued to decline in June even as the federal benchmark remained steady. The national average interest rate on a 60-month loan for used cars was 7.74% as of June 17, down 32 basis points (bps) compared with June 7, 2024, according to the latest data provided [...]
Senate Republicans take aim at EV tax credit

1 week ago | autofinancenews.net | Truth Headlam

By Truth Headlam EV shoppers may see fewer incentives after legislation was introduced to revoke the federal credit. The Republican Senate Committee on Finance's version of the House tax reconciliation bill introduced June 16 would end the clean vehicle tax credit for new EV purchases 180 days after it is signed into law. The bill would end tax [...]
June used-car inventory drops 0.5%

1 week ago | autofinancenews.net | Truth Headlam

By Truth Headlam Used-vehicle inventory dropped headed into June as more consumers bought out their leases and sales remained steady. Inventory was flat year over year as of June 2 but dropped 0.5% month over month to 2.2 million units, according to vAuto data. "There's just fewer cars coming back" into the used market, Jeremy Robb, senior director of [...]
Credit union off-lease purchase volume trends higher

1 week ago | autofinancenews.net | Truth Headlam

By Truth Headlam Consumers are buying out their leases amid higher car prices and inflated used-vehicle values. Off-lease purchasing at credit unions has averaged over 20% during the past year, according to Credit Union Leasing of America (CULA) data provided to Auto Finance News. By comparison, CULA membership typically sees off-lease purchasing average around 15%. In Q1, off-lease [...]
California auto dealers seek to up processing fees to $500

2 weeks ago | autofinancenews.net | Truth Headlam

By Truth Headlam California auto dealers may soon be able to increase their below-market document processing fee for applications, thus raising vehicle costs for consumers. Under Senate Bill 791 passed by the California State Senate, dealers will be able to increase document processing fees to up to 1% of the total vehicle price or a maximum of $500. [...]
Credit access improves in May as prices steady

2 weeks ago | autofinancenews.net | Truth Headlam

By Truth Headlam Credit access improved in May as consumer demand remained inflated and the pre-tariff vehicle procurement frenzy continued. The Dealertrack Credit Availability Index rose 2% year over year and 1.3% month over month to 96.7, according to Cox Automotive's June 10 release. Approval rates for auto loans rose 28 basis points (bps) MoM. Dealertrack Credit Availability [...]
Carvana launches real-time down payment capabilities

2 weeks ago | autofinancenews.net | Truth Headlam

By Truth Headlam Carvana has implemented request for payments technology and instant payments capabilities for down payments on vehicle purchases, allowing consumers to obtain their vehicle faster. The online used-car dealership has integrated financial services provider Plaid's RFP technology, which leverages The Clearing House's real-time payment (RTP) network to streamline the consumer-to-business payment process. The payments feature, [...]
Credit unions see leasing uptick

2 weeks ago | autofinancenews.net | Truth Headlam

By Truth Headlam Credit unions are seeing an uptick in leasing activity this year as consumers continue to grapple with affordability. Leasing volume at credit unions is up. Credit Union Leasing of America (CULA)'s originations increased 56.3% year over year for funding supplied from January through May, according to data provided to Auto Finance News. San Diego-based CULA [...]
May sales mixed across OEMs

2 weeks ago | autofinancenews.net | Truth Headlam

By Truth Headlam May sales were mixed across the major auto manufacturers as overall new-vehicle retail sales declined following a vehicle-purchasing frenzy in April triggered by President Donald Trump's tariffs. Cox Automotive estimates that May's seasonally adjusted annualized rate increased 2.5% year over year to 15.6 million, according to data released June 6. In the Federal [...]
30-day auto delinquencies fall 18 bps YoY in Q1

3 weeks ago | autofinancenews.net | Truth Headlam

By Truth Headlam Thirty-day auto delinquencies dropped in the first quarter as average interest rates and monthly payments slid for used vehicles. The rate of auto loans 30-plus days delinquent dropped 18 basis points (bps) year over year to 1.91%, according to Experian's Q1 2025 State of the Automotive Finance Market report released June 5. The average [...]