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492Late With Car Payment? The Bank Could Remotely Turn Off Your Vehicle

Banks can disable and track cars from afar using new technology

Unlike a house, where it can take months or years to evict owners behind on their payments, some subprime lenders can now simply switch off a late borrower's car.

48Car sales strong, but increased incentives are worrying

The auto industry in the US is doing great in 2014. According to our latest By The Numbers report, the Seasonally Adjusted Sales Rate climbed in August to about 17.5 million units, the highest figure since 2006. However, when you scratch underneath the positive surface, the rosy situation might not be as good as it seems. There continues to be a concern among insiders and analysts that while sales are strong now, they might not be sustainable. To keep financial results looking encouraging, some

77Honda exec says US market near capacity, could hurt subprime buyers

Is there a point in the US auto industry where companies should start considering the welfare of their customers ahead of selling more cars? American Honda Executive Vice President of Sales John Mendel thinks that level exists, and we may be getting very close to it.

12Auto Finance Company Fined $2.75M For Hurting Customers' Credit

Errors were found on subprime borrowers credit reports

The auto financing company First Investors Financial Services Group was fined $2.75 million on Wednesday by the Consumer Financial Protection Bureau for reporting incorrect information to credit agencies that affected thousands of customers.

40Outstanding auto loans total higher than ever

It looks like Americans are feeling more confident about borrowing money again, at least when it comes to their cars. Credit reporting giant Equifax has released its latest National Consumer Credit Trends Report, and the data suggests that auto lending is booming in 2014.

33New research suggests US auto sales nearing peak

'Generation N' Will Sap Long-Term Demand

The industry is on pace to sell more than 16 million cars this year ... but don't break out the party hats and champagne just yet.

64Who Can Afford The Average Car Price? Only Folks In Washington, D.C.

Americans are spending far too much money on new cars

A medium-income household can afford the average-priced new vehicle in just one of the 25 largest U.S. metro areas, according to a report from Interest.com.

477Protect Yourself From Yo-Yo Financing

Dealership sell cars, and then take them back when the loan falls through

When dealers allow cars to roll off lots when financing isn't complete, customers can be on the hook for hundreds in extra fees or have their cars repossessed if loans don't come through.

162More car buyers favoring longer term loans, up to 10 years [w/poll]

The length of car loans in the US keeps on growing as more and more consumers look for ways to save money every month to pay off obligations and necessities. Extremely low interest rates and more durable automobiles have become key factors in driving these new longer-term car loans, which can last anywhere from six to 10 years.

79More People Defaulting On Car Loans, Says Experian

There are ways to prevent losing your car to the repo man

The percentage of 60-day delinquencies on car loans nudged upward in the final months of 2012, the first increase in delinquency rates since the recession and financial meltdown began in 2008.

36Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.

9General Motors buys Ally Financial foreign operations

In a move that welcomes former pieces of General Motors back into the fold, GM Financial has reached a deal with Ally Financial, formerly GMAC, to buy a piece of the company's international operations. The $4.2 billion deal is for Ally's Latin America, Europe and China operations.

21Auto loan delinquency rates at historic lows

One indicator of the status of our economy is the rate at which car owners are able to make payments, or rather, aren't. The rate at which owners can't get the check in the mail for their new car is called the delinquency rate, and according to a Los Angeles Times report, it has fallen to an all-time low.

102Beware Of The Following Car Dealerships When Seeking A Loan

Federal Trade Commission increases enforcement of dealerships that make deceptive promises

The sales pitch goes something like this on the showroom floor: A car salesman makes an enticing promise. "We'll pay off your car loan, no mater how much you owe!" Or "upside down on your current loan? We'll pay off your trade."

3Chrysler Financial to begin lending once again for Chrysler vehicles?

Chrysler Financial hasn't been doing a whole lot since the domestic automotive implosion of aught-nine. When the Obama Administration's Automotive Task Force found that the lender didn't have the wherewithal to continue making large loans to dealers, GMAC was forced to take over lending duties for Chrysler. Part of that decision was due to the fact that last year, used car values were at one of their lowest points in decades. Since the majority of Chrysler Financial collateral involves used cars

50STUDY: Average car costs 22.1 weeks of median family income, average price at $26,300

A study by Comerica Bank shows that the average purchase price of a new vehicle went up $300 in the second quarter versus the Q1, bringing the average transaction price to $26,300. The upward swing in prices came at a time when the average household income remained stagnant. The average family needs 22.1 weeks of median family income to pay for their new vehicle purchase, up .3 weeks from Q1. According to the study, higher transaction prices were slightly offset by lower financing rates, down to

29New car customers stuck with old loans when dealers don't pay off the trade-in

Many consumers who buy a new car still owe money on the car they're trading in. The situation is usually handled by the dealer agreeing to pay off the old loan, the cost of which might be folded into the new car price. No problem a year ago, but it's a bigger issue now. With 5,000 dealers closing their doors last year, some of those old loans aren't getting paid off. Consumers who bought new cars are finding out they're still on the hook for the old car loans, and in some cases, if another consu

29Automakers still hungry, may get bailout for bad car loans

Last week Congress signed a bill that frees up $25 billion in low interest loans for all automakers (including non-domestics if they plan to spend the money on green tech) and suppliers that spend money in the U.S. to develop green technologies. That was a big deal for Detroit automakers struggling to stay afloat during an abominable automotive downturn.

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