Automotive Dive’s Post

Dealerships, take the lead in customer convenience! Revolutionize your customer experience with our latest tool: Send QR codes to consumers for pre-offers on auto loans! 📱 Stay ahead by hooking potential buyers before they arrive. No more waiting for financing, just drive-off-the-lot satisfaction! 😊 #TechDrivenDealership #InnovationAtItsFinest #QRCodeConvenience #CustomerSatisfaction #EffortlessExperience #AutoFinanceSimplified #FasterCarBuying #Automatic #FinTechSolutions

🚀 Learn how CRIF Select Corp can help your financial institution give access to credit and enhance your customer experience with Indirect Lending. Stay ahead of the curve and level up today! #IndirectLending #Automotive #CRIFSelect 🔥

Check out this great article to learn more about CRIF Select and the state of lending!! #Auto #lending #Indirect #partnerships

🚗 Rising Demand for Personal Vehicle Loans! 🚗 According to a recent report, the demand for personal vehicle loans has surged by 12% in the last four months. This increase reflects growing consumer confidence and the desire for personal mobility in today’s fast-paced world. 💡 Whether it's for convenience or a shift toward owning private vehicles, this trend is an exciting opportunity for both lenders and consumers alike. If you're thinking about upgrading your ride or exploring financing options, now could be the perfect time to act! 🔗 Read more about this growing trend here The Economic Times: https://lnkd.in/gvAcHP5e #VehicleLoans #AutoFinance #PersonalLoans #ConsumerTrends #FinanceIndustry

Discover how to secure an auto loan with bad credit through 5 key tips: improve your credit report, raise your down payment, and explore diverse lending options to enhance your chances. #AutoLoan #FinanceTips #CreditScore #bankingindustry #fintech #banking https://lnkd.in/eyrSrvcC

Would you have guessed Gen Z turns to credit unions the most for auto loans? CU colleagues, read more about this and other interesting insights about auto loans at CUs. #GenZ #CreditUnions #AutoLoans

🚩The irresponsible banks are showing cracks, while the puzzle of low unemployment and rising delinquency of prime and subprime borrowers is of serious concern (Thanks to the various "forbearance" programs). 🚩 The transition of prime and subprime borrowers into the delinquency category is not just a trend, but a rapid and concerning phase. Even more worrying, borrowers with top credit scores have been falling behind on their auto debt at an accelerated pace over the years. 🚩 The Bank’s dealerships are at greater risk of defaulting floor plan loans due to low sales. The combination of high prices and credit score migration allowed many borrowers to access credit (which they otherwise might not have been able to) to purchase vehicles whose prices had risen significantly over a relatively short period of time. https://lnkd.in/eCujrTAZ

🚩The irresponsible banks are showing cracks, while the puzzle of low unemployment and rising delinquency of prime and subprime borrowers is of serious concern (Thanks to the various "forbearance" programs). 🚩 The transition of prime and subprime borrowers into the delinquency category is not just a trend, but a rapid and concerning phase. Even more worrying, borrowers with top credit scores have been falling behind on their auto debt at an accelerated pace over the years. 🚩 The Bank’s dealerships are at greater risk of defaulting floor plan loans due to low sales. The combination of high prices and credit score migration allowed many borrowers to access credit (which they otherwise might not have been able to) to purchase vehicles whose prices had risen significantly over a relatively short period of time. https://lnkd.in/eCujrTAZ

Credit Unions, do you want to learn how these helpful #insights can guide your #auto lending strategies and grow member relationships? Check out the most recent issue of the Auto Lending Industry Trends and Insights report! https://bit.ly/3UCOdKE

Some great insight into current Non-prime auto lending market.