payments

Voice-Powered Systems Streamline In-Car Payments

Voice assistants in cars are becoming more like co-drivers, said Christophe Couvreur, vice president, product at Cerence. They’re not only responding to commands, but are also understanding common language and offering solutions. 

Couvreur has been in the midst of these changes for years, as Cerence’s core business is speech technologies and other artificial intelligence (AI) technologies for the automotive industry. It supplies these to original equipment manufacturers (OEMs) and Tier-1 suppliers of equipment that gets into the car. 

“Wider data connectivity will allow the car to behave in a much smarter way, assisting the driver in a much smarter way,” Couvreur told PYMNTS. 

In recent weeks, Cerence has expanded its work with additional manufacturers, including Audi, where it will power the in-car assistant platform for the new Audi e-tron GT and Audi Q4 e-tron. 

Cerence Pay, the company’s voice-powered, in-car payment product, is available and has been supplied

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What Percentage of Your Income Should Go Toward Auto Loan Payments?



a woman in a car: woman driving car smiling.


© lechatnoir / Getty Images
woman driving car smiling.

Housing expenses such as mortgage payments or rent and insurance are usually the biggest monthly line item in most people’s budgets. Not far behind are transportation costs, particularly if you own a car — and certainly if you finance your purchase.

See: 7 Crucial Things You Need To Apply For an Auto Loan

If you plan to get an auto loan, you need to first figure out the answer to the question “How much car can I afford?” Figure out how much you can afford to pay by calculating your monthly budget. Do this before you set foot in a dealer’s shiny showroom where they might try to seduce you into buying and financing more car than you can afford.

How Much of My Paycheck Should Go Toward Car Loan Payments?

You’ll hear different advice about how much you should allocate

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Monthly car payments near $600 as SUV and truck sales surge: Experian

The average monthly car loan payments are on the rise, surging upwards of $600, as an increasing number of consumers switch back to financing new vehicles, according to Experian’s latest auto financing report.

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During the last three months of the 2020 fiscal year, consumers borrowed almost $2,000 more for new vehicles, spending on average $35,228, according to Experian’s State of the Automotive Finance Market report.

This pushed their monthly bill from about $13 to upwards of $576 during that period, according to Experian.

“The events of 2020 disrupted the automotive industry and we’ve seen some consumers shift away from patterns that have been cemented over previous quarters such as opting for used vehicles,” Experian senior director of automotive financial solutions Melinda Zabritski, said.

This change can be attributed

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