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Lenders Continue Easing Access to Auto Loans

Banks, finance companies taking on more risk.

by on Mar.09, 2015

Bank regulators and analysts are wondering if it's too easy to get a loan for a car.

The rising volume of new car loans is drawing the attention of bank regulators and analysts, who are watching for signals about what the increasing demand for loans says about the state of the economy and the car business.

Researchers from the Federal Reserve Bank of Cleveland noted that newly originated auto loans hit $105 billion in the third quarter of 2014, which is the highest level since 2005.

A Real Performer!

Federal Reserve Bank of Cleveland researchers Emre Ergungor and Caitlin Treanor claim the rapid growth in auto loans is due to an increase in the demand for cars and a continuing easing of standards in the supply of credit. (more…)

Mercedes-Benz Financial Launches iPhone App

Play your games then pay your bills.

by on Oct.16, 2009

Mercedes-Benz Financial has launched what it claims is the first automotive finance app for the iPhone and iPod Touch.

Mercedes-Benz Financial has launched the first auto finance app for the iPhone and iPod Touch.

You can play games, snap and send pics, even check whether a shelf is level.  So it’s probably no surprise you can now pay your car bill on your smartphone.

Mercedes-Benz Financial has launched the first automotive financial service app for the popular Apple iPhone.  The free download (which you can get by clicking here) gives Mercedes Financial customers access to a wide range of services.  They can check an account summary, request payoff information and, for those always on the go, pay their monthly bill, as well.

“We recognize the need for multiple communication channels in today’s mobile environment,” says Franz Reiner, Vice President, Mercedes-Benz Financial.  “The iPhone App provides our customers with another means to communicate with us.”

The captive finance subsidiary is launching a marketing campaign dubbed, “The Coolest Way to Pay,” to promote the new iPhone app.  It can also be used on the iPod Touch, as long as the device has access to the Internet using a WiFi connection.

About 450,000 customers currently use Mercedes-Benz Financial services.