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Sense of Urgency Pervades Q3 Dealership Acquisitions
Kerrigan Advisors’ latest Blue Sky Report finds the pace of U.S. dealership buy/sell activity quickened in the third quarter and could accelerate further in Q4.
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Kerrigan Advisors’ latest Blue Sky Report finds the pace of U.S. dealership buy/sell activity quickened in the third quarter and could accelerate further in Q4.
Edmunds’ latest Used Car Report finds high off-lease volumes have suppressed prices and widened the gap between new and 3-year-old models to an average of $14,951.
Experian analysts say buyers of pre-owned vehicles accounted for 55.15% of all U.S. auto loan originations in the third quarter, a 2.4% year-over-year increase.
Edmunds analysts say Black Friday promotions helped suppress new auto loan interest rates last month, registering a year-to-date low of 5.5% and an 8.3% year-over-year decline.
A joint statement from the nation’s biggest banking regulators expressed cautious optimism toward emerging decisioning models that could generate more auto loans.
Kelley Blue Book reports the average cost to buy a new vehicle was $38,393 last month, a 1% year-over-year increase restrained by frantic efforts to move 2019-MY inventory.
Black Book reports retained values for used vehicles decreased sharply last month. If the index holds through December, it will end 2019 on a year-over-year decline of nearly 2%.
The latest report from Wantalease.com finds several factories already offering lease discounts ahead of the usual year-end rush.
Prices for used vehicles declined 4.2% in the first 10 months of 2019 while volume increased 5.2%, J.D. Power analysts say, a trend that has begun to affect the commercial market.
Equifax analysts say U.S. auto loan and lease originations declined 0.6% and 3.9% year-over-year in the first half of 2019, but balances for new vehicle loans were up 2.6%.
The Federal Reserve reports U.S. car buyers borrowed $159 billion in the third quarter, a modest gain powered by a 6% increase in originations to prime credit customers.
Ford Motor Credit is No. 1 in J.D. Power’s latest rankings of customer satisfaction with auto finance companies. Analysts say the metric is increasingly driven by the digital experience.
Black Book’s latest Used Vehicle Retention Index report shows retained values for light trucks declined at a faster rate than many car segments.
Ten-year auto finance veteran Scott Maybee has been named president of NextGear Capital after serving as general manager of Manheim Northstar Minnesota.
Wary of unmanageable monthly payments, the American car buyer’s attention is increasingly shifting toward used vehicles, leases, and longer terms as the cost to buy a new car or truck continues to climb.
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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