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Lease approvals on Swapalease.com’s secondary marketplace ticked up to 72% in April, the highest rate since August 2018.
Black Book’s Used Vehicle Retention Index registered at 113.6 in April, 1.4% higher than it was a year ago but 0.2% lower than in March.
An analysis of more than 35,000 loans for pre-owned vehicles on the LendingTree platform finds Tesla, Porsche, and Lexus buyers had the highest average credit scores.
Swapalease.com’s Q1 latest report finds only 11.2% of lease-exchange customers favored luxury sports sedans in the first quarter, down from 17.7% in Q1 2018.
Wantalease.com reports 75% of auto lease prices have remained largely flat so far in April, but several Ford models became more expensive after an incentive-laden March.
President Trump kicked off a weeklong public awareness campaign for the 2017 Tax Cuts and Jobs Act with a visit to Nuss Truck and Equipment in Burnsville, Minn.
Black Book and Fitch Ratings’ annual used-vehicle depreciation and auto ABS report predicts a 15% depreciation rate for U.S.-registered vehicles, up from 12.4% in 2018.
Thirty- and 60-day delinquencies remained fairly stable in the fourth quarter, while affordability rightfully remains a key point of discussion among dealers and auto finance sources.
Approval rates on Swapalease’s online marketplace were up 4.8% in March, registering a 70.7% approval rate, the highest since October.
Black Book’s Used Vehicle Retention Index slipped again in March but showed a 1.7% year-over-year gain heading into April, when analysts expect the spring selling season to begin in earnest.
Edmunds says the average APR for a U.S. new-vehicle loan was 6.36% in March, putting dealers and consumers on the cusp of a ‘dramatic shift’ toward the used-car market.
The U.S. new-vehicle sales forecast improved to 17.42 million units in March, but sales fell 3.1% year-over-year against slowing demand fueled by higher interest rates, prices, and payments and reduced incentive spending.
NextGear Capital announced that founder and floorplan financing innovator John Fuller has died at the age of 75.
Wells Fargo President and CEO Tim Sloan will retire effective June 30, ending an era marked by a series of scandals that rocked the company’s auto, home, and consumer banking divisions.
Two consumer credit giants have partnered to launch the Data Decisions Cloud, a new data and analytics suite designed to speed credit decisioning for auto finance sources.
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.
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