
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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Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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Overall, the data shows encouraging signs for the automotive finance market.
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The seasonally adjusted Retention Index increased to 169.5 points, hitting another record this year.
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As we move into the Fall season, wholesale prices began to show a positive movement once again and reached the highest point of the year last week.
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Overall, recent polling indicates more Americans are feeling better about the quality of their financial life now, relative to their expectations, compared to the end of 2020.
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U.S. new vehicle retail sales are expected to drop 888,900 units in September, from 1,182,788 a year ago.
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The market continued to make gains this past week, marking the fourth consecutive week of overall wholesale value increases.
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Automobile sales in September are forecast to slow for the fifth straight month, as tight inventory, high prices take a toll on the industry.
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Renewed credit facility and securitized term note reinforces NextGear Capital as a strong lending partner for independent dealers.
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Traditionally, as we move past Labor Day, values begin to decline, with the largest portion of the yearly depreciation typically occurring in the fourth quarter. However, that is not the case this year, we’ve now had four consecutive weeks of overall market increases in wholesale values.
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Auto dealership buy/sell market on path to most active year in history – 320 transactions June 2020 to June 2021.
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