In times of economic uncertainty it is not a surprise that any number of economic prognosticators are out there opining and crystal-ball gazing, whether those views are based on facts or not.
One example of this is the myth of a “bubble” in the auto finance industry. While some folks are focused on which companies may or may not seek financial support from the federal government during the coronavirus pandemic and drawing conclusions, seeking such loans isn’t an indicator of the health of the overall industry. There have been plenty of studies that confirm that there is no such thing as a “bubble” related to the auto-finance industry, largely due to the cyclical nature of the marketplace. A few years ago, AFSA conducted an exhaustive study on the topic, which found exactly this. Economists of all stripes have also noted that there is no such thing.
In times of economic uncertainty it is not a surprise that any number of economic prognosticators are out there opining and crystal-ball gazing, whether those views are based on facts or not.
One example of this is the myth of a “bubble”… Read the rest
On April 2, ACI/SpeedPay presented a program entitled Consumer Pulse Survey – Focus on Auto Finance Billing and Payment as part of the AFSA Business Partner Webinar Series.
Darcy Locke, Principal New Business Developer, ACI Worldwide… Read the rest
The American Financial Services Association (AFSA) yesterday, April 8, submitted a comment letter to Small Business Administration (SBA) Administrator Jovita Carranza asking that the Paycheck Protection Program (PPP) rules be amended… Read the rest
GM Financial has launched a variety of asisstance options for its auto finance consumers. The company is waiving all late fees from March 1 through April 30 and is offering lease end assistance. Learn more at GM's coronavirus page… Read the rest
SheppardMullin has established a comprehensive collection of resources for the consumer finance industry and other interested parties. The page contains a multitude of documents, updates and guidance at the national, state and local … Read the rest
Join us on May 13 at 2:00 p.m. ET for the Virtual Auto Retailing in Today’s Marketplace: Economic Outlook & Digital Strategies for Lenders webinar, presented by Dealertrack.
Cox Automotive Chief Economist Jonathan Smoke … Read the rest
TD Bank and TD Auto Finance are offering assistance to consumers affected by Coronavirus, including deferred payments, waived late fees and refunds on transaction fees. TD is also offering assistance with SBA and CARES loans to business … Read the rest
The American Financial Services Association continues to gather critical resources for members as they work to support consumers through the coronavirus crisis. The documents, available at afsaonline.org/Coronavirus, include AFSA's… Read the rest
Toyota Financial Services (TFS) has launched a number of relief programs available to new and existing customers. Current purchase customers can receive payment relief and lease customers that are near or at the end of their lease are eligable… Read the rest
