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An Overview of Automobile Financing at the Dawn of the New MillenniumPublished by: TowerGroup Published: Jan. 1, 2000 - 15 Pages Table of ContentsHighlights Introduction Background Automobile Lending Pipeline Supporting Technologies and Strategies Conclusions AbstractAutomotive sales are equal to about 20% of all retail sales in the US. Automotive lending dominates noncard, nonmortgage lending, and is equal to about 10% of all consumer credit, including cards and mortgages. This TowerGroup Research Note provides an overview of the issues that impact the use of information technology in the automotive industry. The primary focus is on North America, although global information is provided when appropriate. Sections in this Note cover: 1) the scale of credit outstanding, application volumes, and spending on information technology (IT) in the industry; 2) major players that provide finance to consumers and acquire external IT; 3) the basic stages in the automobile lending pipeline with an emphasis on practices that distinguish it from other types of consumer lending; and 4) emerging technologies (e.g., imaging) that may be more applicable to automobile lending than other types of consumer loans. Each of the broad topics introduced in this report is covered in greater depth in other TowerGroup Research Notes focused on automobile finance.Get Full Details About This Report >> |
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