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July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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SEARCHMENUSEARCHCredit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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F&I trainer explains why building and refining a professional skillset is more important than building a solid résumé.
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Cox Automotive’s Mark O’Neil talks to the editor about MakeMyDeal’s future, digital retailing, and the fate of the F&I office.
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F&I trainer shares five proven methods for turning cash customers into F&I product buyers.
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RoadVantage won the first-place Diamond award in the F&I Product category in the 2017 Dealers’ Choice Awards.
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F&I and Showroom’s Gregory Arroyo will chair the 20 Group-like event, which will close out Industry Summit 2017 on Sept. 14. This year’s theme: ‘Making F&I Great Again.’
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Reflecting the shift toward more creditworthy borrowers was the rise in average credit scores for both new- and used-vehicle loans. But the retreat from the high-risk tiers also comes during a quarter in which the average new-vehicle finance amount and monthly payment reached record highs.
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UDS’s Brian Crisorio and Auto Dealer Today’s Tariq Kamal will serve as co-show chairs for this year’s Compliance Summit.
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With wholesale used-vehicle prices rising in May, the Manheim Used Vehicle Value Index rose to a record 127.9. The firm noted that dealers purchased the most vehicles at Manheim auctions for the month of May since 2008.
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With banks retreating from all risk tiers, an executive with CU Direct Lending said the auto finance market is primed for credit unions to pick up more share. In the first quarter, credit unions grew their share of the market by 4%.
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Car buyers are putting down $504 more on a new-vehicle purchase than they did five years ago. But with buyers purchasing pricier cars and interest rates on the rise, something has to give, Edmunds.com analysis said.
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