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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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All major market segments saw seasonally adjusted prices that were higher year over year in May, except for pickups.
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New Experian report shows ongoing impact of inventory shortage on automotive finance market, as average vehicle loan amounts and monthly payments continue to rise.
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The overall market continued to see positive movement last week, but some of the segments that have been catching our eye in recent weeks for their pricing movements are now doing so for different reasons.
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The seasonally adjusted, annualized rate of sales fell to 12.81 million in May, according to Motor Intelligence.
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The Estimated Average Weekly Sales Rate has dropped down to 71% after several weeks of increases.
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Powered by its robust offering, SAF continues to sign dealer agreements and fund loans.
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As new vehicle inventory remains constant, and prices for both new and used cars begin to level off, dealers are continuing to benefit from high levels of profit.
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The overall market continued to experience increases last week, with the more fuel-efficient segments reporting some of the largest gains.
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New-vehicle affordability declined slightly in April despite revised data indicating stronger income gains, according to the latest Cox Automotive/Moody’s Analytics Vehicle Affordability Index.
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The Estimated Average Weekly Sales Rate continues to increase and now is at 72%.
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