Fraud alleged in auto loan remedyNews from Sacramento Bee:
The Federal Trade Commission is accusing two local auto-loan modification operations of fraud in connection with making false promises to consumers.
In a lawsuit filed in U.S. District Court for the Eastern District of California, the FTC contends that operations in Folsom and Roseville charged hundreds of dollars in up-front fees, based on bogus promises that they could reduce consumers’ monthly car loan payments and help avoid repossession of their vehicles.
One is identified as Hope for Car Owners LLC at 13389 Folsom Blvd., in Folsom, with an office at 1410 Rocky Ridge [...] Continue Reading…

FTC suit accuses California auto loan modification firms of fraudNews from Los Angeles Times:
The Federal Trade Commission filed a lawsuit accusing several California auto loan modification operations of deceiving consumers with false promises and then leaving their cars to be repossessed.
The agency alleged that Hope for Car Owners in Folsom and Kore Services in San Diego charged clients hundreds of dollars in up-front fees for help obtaining car loan modifications, but then did nothing and refused to provide the full refunds they had advertised.
The FTC also said it filed suit against individual participants Patrick Freeman from Hope and Michael [...] Continue Reading…

Can auto lender repo defaulted loan without going to court?News from MiamiHerald.com:By Martin E. Segal The Miami Herald
Q. When one of our former Florida managers needed to buy a new car we loaned him the money and financed his purchase. He gave us a promissory note secured by the auto title. Now he has defaulted. He refuses to voluntarily return the car. Can we go ahead and seize the vehicle?
Ready to Repo
As a general rule of business law, a secured auto lender like you has the right to repossess the vehicle in event of default. This right is contractually [...] Continue Reading…

Auto Loan Rate Deal of the Day: Angelina Federal Employees Credit Union at …News from Go Banking Rates:

Angelina Federal Employees Credit Union provides an auto loan rate to drivers in Lufkin, TX that doesn’t distract members from where they need to go. The institution offers an auto loan rate of 3.75% APR which helps to save money.
Auto Loan Rate Terms and Conditions
Receiving the auto loan rate above is simple. First, borrowers must be an existing member of the institution or be eligible for membership. Loan financing is available at this interest rate for up to a 60 month term [...] Continue Reading…

TransUnion: Auto Loan Payments Take Precedent Over MortgagesNews from Mortgageorb:When it comes to consumer bill-paying priorities, auto loans are viewed as being more important than mortgages. According to new data released by Chicago-based TransUnion, consumers are also more apt to pay off their credit cards before their home loans.TransUnion’s data analysis looked at a sample of approximately 4 million consumers in each quarter of 2011 that had at least one open auto loan, one open bank credit card and one open mortgage. The study found in each quarter that there was a clear preference for remaining current on auto [...] Continue Reading…

First Niagara starting up indirect auto loan unitNews from Bizjournals.com:

Business First by Allissa Kline, Buffalo Business First Reporter
Date: Wednesday, March 28, 2012, 12:04pm EDT – Last Modified: Wednesday, March 28, 2012, 12:23pm EDT

Related:
Banking & Financial Services, Economic Snapshot

Joe Wojcik
First Niagara is adding jobs through a new venture involving auto loans.

Allissa Kline
Buffalo Business First Reporter – Business First
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Peaks Auto kicks off 2-day car loan melaNews from GreaterKashmir.com:
Srinagar, Mar 29: Peaks Auto today kick-started a two-day ‘Car Loan and Exchange Mela’ at Government Medical College, here. Principal, GMC, Srinagar, [...] Continue Reading…

Auto Loan Rate Deal of the Day: Galaxy Federal Credit Union at 3.49% APRNews from Go Banking Rates:
Saving money starts with finding the best interest rates, including an auto loan rate for your next car purchase. To guide Franklin, PA members along a smart financial future, Galaxy Federal Credit Union provides an auto loan rate of 3.49% APR that lowers monthly payments and long-term interest charges.
Auto Loan Rate Terms and Conditions
Members who would like to obtain this auto loan rate are required to have exceptional credit history and credit score to qualify. Loans are available at this rate for [...] Continue Reading…

Car refinancing: Risks & benefits of auto loan refiNews from Chicago Tribune:You’re looking for some extra cash, and you see the ad on TV: Refinance your car and save money, or just lower your monthly payment by extending the length of your loan. Question is, is it really a good idea? Before you refinance, it’s important to understand that a positive tool like refinancing can be used in shortsighted and reckless ways.Refinancing involves transferring your car’s title — official ownership — from one creditor to another. The assumption when you sign up for a car loan is “that’s it,” [...] Continue Reading…

FG Supports Auto Technicians With N1 Billion LoanNews from AllAfrica.com:
National Automotive Council (NAC) has approved the sum of N1 billion as soft loans for automobile technicians in the country to enable them meet up with the latest developments in the repair of modern automobiles.
The automobile technicians operating under the aegis of Nigerian Automotive Technicians Association (NATA) utilised the opportunity offered it by NAC’s empowerment programme which was launched Thursday in Lagos, to secure the life tonic.
Speaking at the occasion, the Director General of NAC, Mr. Aminu Jalal noted that the “Auto Technicians Support Scheme” is one the council’s many [...] Continue Reading…

Auto Loan Rate Deal of the Day: Air Force Federal Credit Union at 2.25% APRNews from Go Banking Rates:
Air Force Federal Credit Union wants to get their members in a new car and on the road, not into more debt. For this reason, the credit union is offering a low auto loan rate of 2.25% APR to budget-crippling interest charges at bay.
Auto Loan Rate Terms and Conditions
To finance your new vehicle at this affordable auto loan rate, depositors must be members of the institution and in good standing on all accounts. The 2.25% APR offer is available on a [...] Continue Reading…