Weekly Wrap: New-vehicle sales decline, legal woes plague subprime lender - a podcast by Auto Finance News

In an August poll by Kelley Blue Book, 48% of consumers indicated they will wait at least three months to purchase a new car, up from 37% in a similar study in May. As a result, new-vehicle sales have been slowing for the past four months. 

Meanwhile, the co-founders of the now-defunct subprime auto lender Honor Finance are facing further legal action in a case that dates back to 2018. A Securities and Exchange Commission complaint, filed with the U.S. District Court for the Northern District of Illinois, accuses James Robert Collins and Robert Frank DiMeo of defrauding investors.

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