Christina Haberstroh's Blog – June 2012 Archive (11)

TD Launches Loan Protection Program in Canada

TD Auto Finance has taken a page from Hyundai's playbook ― three years later.

TD Auto debuted a loan-protection program this week aimed at Canadian customers who lose their jobs during the first year of vehicle ownership.

The new program allows qualified consumers to sell back their car to TD, plus receive up to $7,500 to compensate for depreciation. It covers sudden job loss, but not bankruptcy, out-of-country job transfer, or several other major events that could prevent a…

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Added by Christina Haberstroh on June 28, 2012 at 1:30pm — No Comments

Ally Starts Lease Program for All-Electric Mitsubishi

Mitsubishi Motors North America has selected Ally Financial as the preferred provider of leasing and financing for the Mitsubishi i. The partnership also calls for Ally to provide leasing for other vehicles in the Mitsubishi lineup, alongside Mitsubishi Motors Credit of America Inc.…

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Added by Christina Haberstroh on June 27, 2012 at 10:30am — No Comments

Facebook Fans exceed 11K for myAutoloan.com

As for the success, it didn’t happen overnight. The strategy has taken years to accomplish, CEO of myAutoloan.com, Greg Thibodeau said in a…

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Added by Christina Haberstroh on June 26, 2012 at 9:39am — No Comments

Facebook Fans exceed 11K for myAutoloan.com

As social media continues to be an important factor in a company’s success, myAutoloan.com just reached a milestone of achieving over 11,000 “fans” on Facebook and 32,000 “followers” on Twitter.

As for the success, it didn’t happen overnight. The strategy has taken years to accomplish, CEO of myAutoloan.com, Greg Thibodeau said in a statement.…

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Added by Christina Haberstroh on June 26, 2012 at 9:30am — No Comments

Caars.net Offers Consumers Multiple Lending Options

Caars.net, an online loan shopping tool for consumers, has added more lenders to its lineup.

The free site allows consumers to shop around for the lender that will ultimately give them the best rate.

By entering their name, email and answering a few questions, the search engine will provide a shopper with a variety of loan options from lenders throughout the country.

In most cases, approval happens instantly and 100%…

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Added by Christina Haberstroh on June 21, 2012 at 2:00pm — No Comments

Credit Suisse Predicts Slow Growth for Regional Banks

As the asset-backed securities market continues to recover, as captives look to drive new car sales, and as several large-cap banks reduce pricing, investment bank Credit Suisse believes direct and indirect auto loan growth will slow for some regional banks.

In a recent installment of Barron’s…

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Added by Christina Haberstroh on June 19, 2012 at 12:00pm — No Comments

AutoTrader.com Names Roadloans.com Preferred Lender

On the heels of partnerships with Cars.com and Vehix, RoadLoans.com has inked a third online alliance, this time with AutoTrader.com.

Through the AutoTrader.com site, shoppers interested in a direct lending option can access financing…

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Added by Christina Haberstroh on June 15, 2012 at 3:00pm — 1 Comment

Used-Vehicle Prices Soften as Summer Kicks Off

Depreciation for compact and midsize vehicles is expected to worsen this summer, according to NADA's Used Car Guide Industry Update.

May’s 1.3% decline marked the first drop in used-car prices since late last year, according to NADA. The decline ended a four-month period in which vehicle appreciation averaged 2% per month. Prices dropped 1.3% in May and midsize cars and midsize vans fell the hardest.

NADA projects that softening seasonal demand will continue to pressure down…

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Added by Christina Haberstroh on June 12, 2012 at 3:30pm — No Comments

LEAP Financial Suspends Originations

LEAP Financial has stopped originating leases due to lack of capital, the company announced yesterday.

The San Diego, Calif.-based vehicle leasing company serves consumers who have difficulty obtaining credit and works with them to either keep their current vehicle or obtain another one. The company's product also enables customers who are unable to qualify for traditional financing to lease a vehicle.

Despite attempts to source capital over the past few months, the company has…

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Added by Christina Haberstroh on June 8, 2012 at 9:00am — No Comments

Will Sales Continue to Rise Despite Economic Challenges?

We’ve been hearing it everywhere we turn: The auto industry is recovering well, despite economic uncertainties. In fact, light vehicle sales for May totaled 1.3 million, up 26% from May 2011 and on track for a SAAR of 13.8 million. Sounds pretty great, right?

As May is typically a strong month for auto sales, some manufacturers reported their best sales totals in years. Still, the economic outlook has worsened. Between lower consumer confidence and weak unemployment numbers, the…

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Added by Christina Haberstroh on June 5, 2012 at 2:30pm — No Comments

Lenders See Capital Return to the Market

FORT WORTH, Texas — Competition is getting heated, earnings are solid, and static pools are holding up “pretty well.” In general, lenders are encouraged by what the future has in store for auto finance. Particularly, capital is back in the market, and banks are competing for a piece of that pie. That was the sentiment here yesterday during a CEO panel at the NAF Association's Nonprime Auto Financing Conference.

Two of three companies represented during the session touted their…

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Added by Christina Haberstroh on June 1, 2012 at 9:30am — No Comments