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Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
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SEARCHMENUSEARCHMost financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
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The estimated average transaction price for a light vehicle in the United States was $41,263 in May 2021, according to the analysts at Kelley Blue Book.
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Retail sales dropped 1.3% in May, following a 0.9% gain in April, reported the U.S. Department of Commerce.
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Automotive Damage Appraisers of the Southwest and Metro Appraisal join Sedgwick, expand national reach of auto claims services.
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The May Retention Index showed another increase and broke yet another record, reaching 159.6 points, a 7.1 point (or 4.7%) increase from April (152.4).
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End-to-end solution through Fortellis to help dealers improve payment experience and drive revenue.
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Lease credit approvals reached 69.9% in May; Down slightly from 70.7% in April.
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SMART Saving Plan allows customers to automate a recurring savings amount that matches their paydays.
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Experian’s latest report also highlights geographic trends in automotive finance.
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New Experian services support employers, human resources, corporate tax and payroll professionals while improving experiences for consumers and lenders.
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Auto loan originations and leases to subprime borrowers fell to just 15% of the total in the first quarter, reported the New York Federal Reserve.
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