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 of World War II. And while 2023 is showing signs of at least a little improvement, the outlook for the coming year’s car market—both new…
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Consumer Fraud in the Auto Industry is on the Rise
From duplicating keys to hacking into onboard security systems, there are many ways for criminals to steal a car. In most cases, that takes knowledge…
Auto Loan Delinquency Rates: What’s the Current Status?
COVID Relief brought stimulus money to people across the US. For some, it was a much-needed respite. It kept food on the table, the lights…
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 You Need to Know about Vehicle Warranties
We’re protective of our things, more if they’re brand new. If it’s a new item that costs a lot of money, we take every step…
How to Easily Explain Dealership Financing to Your Customers
You have a client ready to buy a car––outstanding! They’ve picked out their new ride, are excited to drive it off the lot, and all…
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…
