A predatory lending practice in the mortgage industry outlawed by the financial reform bill escaped regulation in the auto lending industry. “Dealer reserve” is a legal practice similar to yield spread premiums; the practice of steering borrowers toward more expensive loans in exchange for a kickback. Although yield spread premiums are now illegal, dealer reserve Read on! →

After a five-month nosedive, used vehicle sales went up in November, reports Automotive News. According to the Manheim Used Vehicle Value Index, the wholesale used vehicle marketplace rebounded last month, although it still hasn’t reached November 2010 levels. Retail used car sales up 3.4 percent in November The Manheim Used Vehicle Value Index, which measures Read on! →