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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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The company will continue growing its indirect lending business while also branching into direct-to-consumer financing, traditional retail financing, and lending across the full credit spectrum.
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The Black Book April Retention Index broke yet another record, reaching 152.4 points.
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Finance industry veteran brings decades of dealer-focused experience to the management role.
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Chief Executive Officer Jon Lamb and President Craig Vaughn will lead MUSA in the expansion of its used car leasing platform, as well as new ventures into traditional retail auto finance, direct lending and serving customers across a wider credit spectrum.
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Credit unions ramping up their abilities to serve their customers digitally is playing an ever-increasing role in satisfying auto-lead and auto-loan origination for their dealership partners.
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This month, tens of millions of federal stimulus checks hit bank accounts across the country. If last year is any guide, many of those will wind up being used to buy powersports vehicles of one type or another.
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History Adjusted Residual Values are an industry first.
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The market continues to increase, but the rate of weekly gains has slowed while still remaining at levels that would be record-setting by any historical comparisons.
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While most luxury car lease payments decrease monthly rates, select SUVs greatly increase rates.
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Overall, the automotive finance market has remained resilient, despite the pandemic. Staying close to the data will help lenders ensure they have the right options available to fit consumers’ needs and budgets.
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