News
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Fake Pizza Calls, 38% Interest and Wrongful Repos: Settlements With Seven Car Lenders Show the Same Tricks Again and Again
Seven auto lenders, eleven years of government files and three recurring problems: loans built to fail, add-ons that never get refunded and collections that cross the line. With the CFPB stepping back, the states are doing the policing.
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Japanese-Owned Ohio Supplier Murotech Settles PPP Size Claims for $3 Million
Small business is a slippery label when your parent company sits on the other side of the Pacific. Murotech Ohio Corporation just found out how slippery. The automotive component maker, based in St. Marys, Ohio, has agreed to pay $3,039,615 to settle federal allegations that it fudged its size to get two Paycheck Protection Program…
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The Average New-Car Buyer Isn’t 61. A $47,800 V8 Mustang Explains Why It Feels That Way
A podcast guest put the average new-car buyer at 61. Federal and industry data say younger, but the price of a V8 Mustang shows why young buyers are shopping used.
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169 Days of Jeeps, 35 Days of Toyotas: The Car Glut Lives on Certain Lots
Cox Automotive counted 82 days of new-car supply in September, below a year ago. The surplus sits with Jeep, Ram and pricier vehicles, and Stellantis is already cutting shipments.
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Truist’s $5.5 Billion Near-Prime Auto Book Was Breaking Even, So the Bank Sold It and Is Shutting the Lender Down
Truist sold $5.5 billion of near-prime car loans from Regional Acceptance, a unit it says broke even, and is closing the lender. Here is how a high-rate loan book ends up earning nothing, and what changes for borrowers, dealers and 458 workers.
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GM Backs Off Countersuit in Troy E-Bike Crash as Michigan Liability Questions Mount
General Motors countersued the parents of a teenager who ended up pinned under a GMC Canyon. Then it dropped the countersuit. The case comes out of Troy, Michigan, GM’s own backyard. In summer 2025, then-14-year-old Johnathan Do was riding an electric bike on the sidewalk along John R Road and crossing Square Lake Road when…
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GM Earned $3.3 Billion Last Quarter. Its Lending Arm Set Aside 39% More for Car Loans Going Bad
Ford, GM and Stellantis have mostly finished booking their EV write-downs. The strain now shows up at their finance arms, on dealer floorplan lines and at subprime lenders.
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Former Investigator’s Live Flock Account Exposes Georgia’s License Plate Reader Offboarding Gap
When a cop leaves a department, there’s a checklist. Hand in the sidearm, the badge, the keys to the cruiser. What apparently wasn’t on the checklist in Effingham County, Georgia, was the one thing that let a former employee keep watching where cars went. In July, the Georgia Bureau of Investigation arrested Andrae Wright, 44,…
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Wow, That Happened? A Ford Worker Allegedly Walked Millions in Parts Off the Line
Most people take home a lunchbox from work. Police say one Ford worker in Michigan took home hoods, bumpers and grilles, brand new and straight off the assembly line. They say he did it for about two years, and the parts added up to millions of dollars before anyone noticed. It’s back on TikTok, and…
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From 35 Cars to Nearly 1,000 a Month: How Carvana Turned a Sleepy Arizona Dodge Store Into Stellantis’s No. 1 Dealer
Carvana bought a small Arizona Chrysler-Dodge-Jeep-Ram store that sold 30-50 new cars a month. It now sells close to 1,000, more than any other Stellantis dealer in the U.S.
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A Jeep Hit a Water Buffalo Head-On on U.S. 11 in Northern New York. Yes, a Water Buffalo.
New York State Police say a Jeep struck a water buffalo head-on on U.S. Highway 11 in Stockholm, N.Y. The release calls it a personal injury accident, then says no one was hurt.
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Warned About Their 13-Year-Old’s E-Moto, Prosecutors Say, Dad Bought Him a Faster One. Now Both Parents Are Charged in His Death
Orange County prosecutors say a Garden Grove father bought his 13-year-old a faster, more powerful E-Moto after warnings and a broken leg. The boy died at 43 mph.
