While self-driving cars may sound like something from a science fiction movie, at Bay Motor Finance we’re getting ready, and we want to help our partners prepare. As artificial intelligence permeates our lives, driverless vehicles are on the verge of becoming a reality. However, we haven’t quite reached the day…
Category: Industry News
Is the Vehicle Inventory Shortage Over?
For the past few years, it’s been easy to see the effects of vehicle inventory shortages that began in 2020. The COVID-19 pandemic played a…
FTC Addressing Auto Sale Add-ons, Price and Financing Disclosures, Yo-Yo Sales, and More
The Federal Trade Commission (FTC) is a federal agency that actively aims to provide American consumers with the proper and needed protections across many different…
Bay Motor Finance’s Outlook for Vehicle Sales in 2023: Used or New Cars?
Due in part to the COVID-19 pandemic, the outlook for new car sales is less stable now than at any time since the production shutdowns…
What is the Community Reinvestment Act’s Impact on Auto Finance?
At Bay Motor Finance, we feel it is essential to keep our clients informed of lending policies in the news, including the latest on the…
What is an Automated Approval Process and How Might it Affect Your Customers?
Traditionally, automobile dealerships have had a “red phone” communication with lenders. Speaking directly to an underwriter has historically made it easy to discuss options for…
The Impact of the CFPB’s Changes on Lenders and Dealerships
The Consumer Financial Protection Bureau is concerned with rising costs in the automotive industry but, since the agency has no oversight of car dealerships, the…
