NextGear Capital Renews $1.1 Billion Financing Securitization
Renewed credit facility and securitized term note reinforces NextGear Capital as a strong lending partner for independent dealers.
Renewed credit facility and securitized term note reinforces NextGear Capital as a strong lending partner for independent dealers.
Traditionally, as we move past Labor Day, values begin to decline, with the largest portion of the yearly depreciation typically occurring in the fourth quarter. However, that is not the case this year, we’ve now had four consecutive weeks of overall market increases in wholesale values.
Auto dealership buy/sell market on path to most active year in history – 320 transactions June 2020 to June 2021.
The U.S. Commerce department reported the uptick of 0.7% in retail sales.
Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
The slowing auto market will lead Cox Automotive to revise downward its full-year new-vehicle sales forecast.
On a volume-weighted basis, the overall Car segment increased +0.18%. For reference, the previous week cars increased by +0.06%.
The seasonally adjusted Retention Index increased to 165.7 points, barely missing another record.
August will be a fourth consecutive month of slowing sales and looks to be coming in even lower than our forecast of 1.2 million, a 9% decline from August 2020.
Haig Partners released its Q2 2021 Haig Report, a quarterly report that tracks trends in auto retail and how they impact dealership values.
The rate of depreciation has been slowing in recent weeks and this past week, the overall Car segment week-over-week change crossed back into positive territory, with six out of the nine Car segments reporting gains.
Inventory shortages continue to push average loan amounts and monthly payments for used vehicles higher.
Lease credit approvals reached 70.0% in July; Up from 67.6% in June.
Brands with unfavorable lease policies continue to see lower brand loyalty.
Despite the limited inventory on dealer lots, dealer lanes continue to have higher volume at auction, while manufacturers’ remarketing lanes are offering less and less in open sales channels.
Experian’s Q4 auto finance report lists America’s top 10 lease vehicles by market share, including one domestic SUV that captured nearly 4% of all new leases at the end of 2018.
View more photos
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
