A series of upbeat metrics has CNW putting December new-vehicle sales in the 1.5 million-unit range, a 10% increase vs. the year-ago period.
Clients of the automotive financial services company can now submit a credit application via Motive Auto Finance’s website to be matched to a dealer or lender willing to fund their loan.
The National Alliance of Buy Here, Pay Here Dealers has published a seven-page white paper on the use of payment assurance technology to secure subprime auto loans and aid in vehicle repossession.
Consumers were back on the sidelines for the first 15 days of July, according to CNW Research, as car buyers continued to wait for the expected increase in incentives after the summer months.
Delinquencies and dollar volume of at-risk loans continued to fall in the first quarter, and auto finance sources responded, with shares of loans to credit-challenged buyers increasing by 11.1 percent. Experian Automotive’s director of automotive credit provides a snapshot of other auto finance trends from the quarter.
Despite a slew of market challenges, the automotive retail market continues to motor along. In the driver’s seat is an improving auto finance market, CNW stated in its April Retail Automotive Summary.
Strong November sales and an increase in consumer demand has the industry poised for another healthy sales month in December, CNW Research’s Art Spinella predicted in his monthly “State of the Industry” report.
In his state of the industry report, CNW Research’s Art Spinella said several indicators point to a solid first quarter 2011. What his data doesn’t point to, however, is the industry cracking the 13 million-unit mark next year.
Auto finance sources continued to favor the less risky lending categories in June, with approval rates for the prime and nearprime categories reaching new highs. The story was different for subprime approvals, which continued their descent from a high in April.
Auto loan approvals continued to pick up in April, the same month pent-up demand reached its highest level since the third quarter 2008, according to CNW Research.
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