One of the largest car-title lenders in the U.S. is fined $9 million for not disclosing the true cost of loans and using unfair debt-collection practices.
Late car-loan payments have risen nationwide, due mostly to delinquencies in states hurt by the oil slump, such as North Dakota, TransUnion reports.
Americans are leasing cars and taking out new car loans at a record pace, according to the latest data from Experian Automotive.
Some auto manufacturers are already touting their car deals as early Black Friday specials.
More can loans are getting approved than ever since the recession.
Car loans for consumers with the worst credit, so-called subprime and deep subprime, have fallen to its lowest share of auto loans overall since 2012.
More consumers are purchasing new and used cars with auto loans, and those loans are for higher amounts and longer terms.
Car loans are at an all-time high, making it easier to obtain loans for consumers with all types of credit ratings, says Experian Automotive.
Credit unions will be looking to increase their car loan business in the next year, according to a new study by TransUnion.
The Consumer Financial Protection Bureau has proposed to extend its oversight to auto finance lenders that are not banks.