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Interest Rates Further Squeeze Auto Consumers
Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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F&I Showroom Magazine
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SEARCHMENUSEARCHLast month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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The NADA reported this week that combined sales from F&I, service contracts and other F&I products accounted for 38.8% of gross profit in 2013, up from 36.5% in 2012.
Read More →Edmunds.com predicted today that May sales will reach 1.55 million units. The SAAR is expected to reach 16.2 million.
Read More →Citing an unnamed source, Auto Finance News reported earlier this month that the CFPB is engaged in fair-lending actions against six finance sources. Bureau officials decline to comment.
Read More →CNW reported this week that sales picked up in late May, with the firm expecting deliveries for the month to increase 11% from a year ago.
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Eric Van Eaton will lead all aspects of the company’s loan servicing activities, including collections, customer service, remarketing and post charge-off recovery.
Read More →Since 2011, auto loan debt per borrower has increased 13%, according to Transunion. The firm also reported that delinquencies experienced a sharp drop from 2013's end-of-year quarter.
Read More →Exeter Finance Corp. announced that EFCAR LLC, a wholly owned subsidiary of Exeter, priced $500 million in aggregate principal amount Series 2014-2 automobile receivable backed notes, which will be issued in four separate tranches.
Read More →J.D. Power and LMC Automotive predict the industry will record its highest selling rate this year during May, thanks to anticipated strong sales over the Memorial Day weekend.
Read More →While 60-day automotive loan delinquencies fell nationally, 22 states experienced increases. The sharpest increase occurred in Delaware, where delinquencies jumped by nearly 10%.
Read More →Four providers of biweekly payment providers responded on May 20 to a memo the NADA issued to its members on May 8. They say the association overlooked key benefits when it cautioned dealers about how such products are presented to consumers.
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