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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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F&I Showroom Magazine
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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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Both the car and truck segments experienced an overall reduction in depreciation during the week of Oct. 28, with car and truck wholesale values decreasing by 0.53% and 0.58%, respectively, vs. 0.76% and 0.80% the previous week..
Read More →Wholesale used-vehicle prices declined 0.7% in October, according to Manheim. Non-seasonally adjusted prices declined 2%, with the Manheim Used Vehicle Value Index increasing 0.6% from a year ago to 126.0.
Read More →The magazine's compliance pro believes the FTC may soon take a page out of the CFPB's playbook when it comes to regulating dealers. He explains how dealers can get prepared.
Read More →Customers who bought cars from Hooman Toyota of Long Beach are angry after losing the perks of an offer they paid into following the dealership's change of ownership, NBC 4 News reports.
Read More →The average price of a used vehicle for model years 2011-2015 depreciated 2.9% in October, a noticeable change from September's 2.3% depreciation rate, according to Black Book.
Read More →F&I, used retail sales, and fixed ops helped dampen Sonic's third quarter declines in volume and gross profit per unit (GPU) retailed. The group also reported that its EchoPark locations increased their F&I per-copy average by 16.3% to $1,078. Overall, the group's F&I operations averaged $1,341 per copy during the period.
Read More →The mobile app allows customers of the group's Mercedes-Benz stores to select their vehicle, the dealership from which to buy, apply for financing or a lease, and then take their approval to the dealership to pick up their vehicle.
Read More →The estimated average transaction price for a light vehicle in the U.S. in October was $34,663, a 2.3% increase over the same time last year. Fiat Chrysler registered the biggest gain in average transaction price, followed by Nissan and Ford.
Read More →Launched last year to serve first-time and limited credit buyers, Yamaha Motor Finance Corp. is in expansion mode. The captive launched a new credit card to replace a program managed by various banks over the last 20 years. The finance source will also be targeting prime customers with its new card.
Read More →A steep decline in Crossover/SUV wholesale values, which have been strong all year, may point to more than seasonality as the reason for the accelerated depreciation of two-year-old vehicles, Black Book said this week.
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