LendingTree, Inc. - TREE STOCK NEWS

According to a new report by ValuePenguin.com under LendingTree, the financial burden of adding a teenage driver at age 16 can reach $5,380 annually, equating to up to 19% of a family's income in certain states. By delaying until age 22, families can save an average of $33,091 over six years. Families in states like Michigan and Louisiana face the highest costs, while lower-income households bear significantly higher insurance premiums. Encouraging teens to wait before driving could be financially beneficial.

CHARLOTTE, N.C., March 22, 2021 /PRNewswire/ -- A recent LendingTree report reveals a significant uptick in credit cardholders negotiating better terms, with 83% successfully lowering their APR. The pandemic's financial strain drove 71% of requests, with women increasingly asking for fee waivers and showing improved success rates. Key findings show 88% achieved waived late fees and 92% reduced annual fees.

Less than half of annual fee cardholders requested reductions despite high success rates, indicating underutilization of options available to consumers.

A recent LendingTree survey reveals that superstitions significantly influence American homebuyers. About 38% have skipped home purchases due to superstitious beliefs, with 51% being men. Additionally, 39% refuse to buy homes near cemeteries, and 32% would avoid homes with unlucky street numbers. Alarmingly, 47% of buyers would exceed their budget for a "lucky" property, averaging $38,000 over their target price. Moreover, 43% of former sellers faced challenges selling to superstitious buyers.

According to a recent LendingTree survey of over 1,500 Americans, 81% spend on at least one streaming service. Netflix leads with 60% subscription, while nearly 40% admit to using others' accounts, mainly for Netflix. The survey indicates that 43% of consumers feel it's unfair to mooch, yet 51% allow others to use their accounts. Parents are more financially burdened, with 34% spending over $50 monthly. Surprisingly, only 37% of streamers leverage credit card rewards for subscriptions, despite available options.

LendingTree, operator of LendingTree.com, announced its fourth-quarter results for 2020, revealing total revenue of $222.3 million, a 13% decrease from the previous year. Notably, the Insurance segment grew by 21% to $85.6 million, and the Home segment increased by 36% to $88.8 million. However, the Consumer segment saw a significant decline of 58% year-over-year. The company reported a net loss of $8.1 million, with an adjusted EBITDA of $26.3 million. For Q1 2021, LendingTree projects revenue between $260 million and $270 million, with a variable marketing margin of $80-$85 million.

The COVID-19 pandemic has severely impacted the restaurant industry, with a LendingTree survey revealing that 50% of Americans reported the closure of a beloved restaurant. The report highlighted that 65% of respondents from the Northeast experienced similar losses. Despite this, 70% of Americans dined indoors at least once during the pandemic, with Gen Z leading at 83%. Some consumers have increased tipping behaviors, but safety concerns persist, with 41% leaving restaurants due to overcrowding. LendingTree emphasizes the ongoing struggle for many smaller establishments.

LendingTree (NASDAQ: TREE) has announced the launch of an indirect auto lending platform that allows consumers to compare pre-qualified auto loan rates on its website. This initiative, effective immediately, is supported by integrations with RouteOne and DealerTrack, enhancing the consumer finance experience at dealerships. Westlake Financial has been signed as the first indirect lending partner, providing a range of competitive auto finance solutions. This collaboration aims to streamline the car buying process, offering consumers transactable loan offers and saving them time at dealerships.