Latest Online Edition Read Here

Latest News

Agency, Association Partner to Prevent Flood Sales

Sunday, 14 January 2018 22:16
The Mississippi Insurance Department and the Mississippi Collision Repair Association have teamed up to protect residents from buying cars damaged by Hurricanes Harvey and Irma.
In an effort to stop these kinds of sales, the Insurance Department and repair shops that are members of the state's Collision Repair Association are working together to offer free inspections for potential buyers.
In addition to checking the hidden areas of the car for signs of damage, the shops can also run a scan of the car's computer system to look for any codes that might indicate it had been exposed to water.

Direct Auto Finance Experiences Higher Delinquencies

Friday, 12 January 2018 01:42
Direct auto finance delinquencies rose in the third quarter, according to the latest American Bankers Association Consumer Credit Delinquency Bulletin. Indirect auto finance saw no change in delinquencies and were unchanged at 1.84 percent of all accounts, well below their 15-year average of 2.19 percent. Delinquencies in direct auto finance (those arranged directly through a bank) rose 8 basis points to 1.12 percent of all accounts, but remain well under their 15-year average of 1.55 percent.

Popular News

Business information provider IHS Markit has awarded General Motors Corporation…
CNBC and SurveyMonkey announced the results of their quarterly CNBC/SurveyMonkey…
Wells Fargo & Co. showed the effect of auto finance…
The Conference Board Consumer Confidence Index decreased in December, following…

Auto Finance Platform Reaches Goal

Wednesday, 10 January 2018 20:57
Online auto refinancing platform RateGenius has surpassed its 2017 goal of facilitating over $1 billion in auto refinance loans. This equates to over 43,300 loans, and estimated customer savings of $3.9 million each month in 2017.RateGenius now aims for a 10 percent increase.

Carite Completes Credit Facility

Wednesday, 10 January 2018 01:04
Crystal Financial LLC announced the completion of a $45 million senior credit facility for Carite Holdings LLC. Headquartered in Madison Heights, Mich., the company sells and leases previously owned vehicles through its network of owned and partnered Carite locations. Through Brite Financial Services, they provide access to lease financing options for consumers with limited or poor credit history.Proceeds from this facility will be used to refinance existing debt and to fund lease portfolio growth.