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Auto Credit Access has Fallen to its Lowest Level since August 2020
As used vehicle prices continue to fall and net charge-offs increase, access to credit has declined. According to a recent report by Cox Automotive, the Dealertrack Credit Availability Index fell to 93.0 in January down…
Losses on the 2022 Vintage of Subprime Loans are on Pace with 2008, the Peak of the Great Recession
As used vehicle prices continue to fall and net charge-offs increase, access to credit has declined. According to a recent report by Cox Automotive, the Dealertrack Credit Availability Index fell to 93.0 in January down…
Closing the Gap: Banks and Generative AI Implementation
Despite financial institutions’ clear desire to harness the capabilities of generative AI technologies, less than 1 in 10 banks have successfully outlined a viable roadmap for their implementation. This disconnect underscores the challenges banks face…
Auto Dealerships are Increasingly Impacted by Fraud
Fraud is a growing concern for auto dealerships, with one fraud incident on average per year. Despite this, only 21% of dealerships verify identification properly. Many rely on photocopying driver’s licenses (64%) rather than utilizing…
Auto Lenders are Increasingly Impacted by Fraud
Auto Lenders are at risk for $8.1 billion in fraud annually because loans are financed based on applications containing misrepresentations. Identity theft is cited as the cause of 20% of fraud. Auto dealers are on…
