You are here: Home » Blogs » Jackie Charniga Retail / Finance & Insurance reporter Email Subscribe to RSS June 27, 2018 @ 10:58 am Comments Email Send us a LetterHave an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print. When it comes to maximizing marketing spend, auto lenders want to be conspicuous. How can they ensure their messaging sticks with potential car buyers? Many banks and captive lenders have creative approaches and partnerships to market their business. But Chase Auto Finance has marketing muscle -- tremendous branding power and marketing real estate as part of a financial services colossus with $2.5 trillion in assets -- that sets it apart. Chase's private-label relationships with automakers began in 2001 with Subaru, and have grown to include Mazda in 2008, Jaguar Land Rover in 2009 and Maserati in 2016. Every day, 1.5 million people … [Read more...] about How Chase flexes marketing muscle for auto partners
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You are here: Home » Blogs » Jackie Charniga Retail / Finance & Insurance reporter Email Subscribe to RSS June 6, 2018 @ 11:30 am Comments Email Send us a LetterHave an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print. The Bureau of Consumer Financial Protection's database of consumer complaints could vanish from public view, and a coalition of state attorneys general wants to prevent that from happening. Could shielding consumer gripes from the public benefit the auto finance marketplace? Depends on whom you ask. Discussion of the bureau discontinuing public access to consumer complaints has followed April 24 remarks by Acting Director Mick Mulvaney to the American Bankers Association conference. Reading from the Dodd-Frank Act, which created the bureau, Mulvaney said by law the bureau must collect and track complaints in a manner that must include … [Read more...] about Does publishing consumer complaint data harm or heal the auto finance industry?
Wells Fargo, struggling with a host of consumer banking issues since 2016, has once again found itself in the penalty box – this time to the tune of a $1 billion fine from federal regulators. It’s one of most aggressive actions taken against a bank during the Trump Administration and comes as a result of recent auto insurance and mortgage abuses. While severe, the penalty likely doesn’t do too much permanent damage; Wells Fargo has $1 trillion in assets, and recently reported first quarter profits of almost $6 billion. Doubling up on auto insurance At issue is the revelation from last summer that 570,000 clients were charged for car insurance even though they already had coverage – and did not need more from Wells Fargo. In addition, many customers were not notified of the additional fees, per disclosure requirements. Of those affected, 20,000 people were driven to loan default and subsequent vehicle repossession. Here’s more from the bank’s … [Read more...] about Wells Fargo hit with $1 billion fine for charging customers for auto insurance they didn’t need
Pickup trucks: Nissan Frontier, Ram 1500 SUVs: Jeep Wrangler, Volvo XC40, BMW X2, Alfa Romeo Stelvio Quadrifoglio, Lincoln Navigator, Buick Envision Sedans: Volkswagen Passat, BMW M5, Volkswagen Passat GT, Toyota Avalon, Buick Regal GS Fuel sippers: Nissan Leaf Sports cars: Mercedes-AMG GT R, Bentley Continental Supersports, Lamborghini Huracan Performante, Porsche 911 GT3 Which cars have the best deals right now? Check out our top deals for March. As always, your discounts may vary, so check with your dealer for specifics. Should I buy new or used? Read up on the pros and cons of each. If you go used, review our used-car buyers' checklist and consider whether you want a certified pre-owned car. How much can I afford? Read our primer. Then use our Price … [Read more...] about Shopping for a Car After Auto-Show Season? We Can Help
It’s not easy to get a car loan with bad credit. Some finance companies see consumers with bad credit as a risky investment. Many of the banks and finance companies have either stopped making these loans or gone completely out of business. So while many people on the news see this as a good thing and banks are getting what they deserve, there is a large amount of people who now cannot get a loan. Outdated information. “People on the news” seeing subprime lending take a hit and “getting what they deserve” is subjective and no longer accurate. Also, there are banks that are starting to get back into the subprime lending market again. So now you ask yourself: “How can I refinance my car with bad credit?” Unfortunately many of the auto finance companies were also in the subprime mortgage crisis and now the boards of these companies see all loans like subprime mortgages. Auto loans are a completely different animal and now there are companies … [Read more...] about Bad Credit Auto Refinance