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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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Mini Financial Services has launched Flipped Financing, a new captive finance option billed as a simplified, low-pressure, single-rate approach for dealers, finance managers, and customers.
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Black Book reports used vehicle values fell by 1% in September, led by declines in the compact van and luxury car categories. Only one segment showed improvement.
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Ford Motor Credit has launched Ford Insure, a new program underwritten by Nationwide and designed to offer car buyers auto insurance at rates discounted by as much as 40%.
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Dealertrack announced the integration of its proprietary electronic contracting solution with Dealertrack uniFI, promising a paperless lead-to-contract workflow facilitated by a single platform.
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NADA Chairman Charlie Gilchrist voiced his support for the United States-Mexico-Canada Agreement in remarks at a press event. The Texas dealer urged Congress not to ignore the ‘reality’ of an auto industry built on favorable relationships among the three nations.
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Mark Sargeant has been promoted from vice president of business development and marketing to CEO of AutoMap LLC.
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‘Market strength is waning’ for used vehicles after a strong summer, a trend that is likely to continue through the end of the year, according to the latest report from Black Book.
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The Experian Automotive Intelligence Engine was designed to offer auto dealers new data and analytical capabilities designed to find in-market car buyers within a 15-mile radius.
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U.S. sales of new cars and light trucks fell 12% year-over-year in September, suppressed in part by a Labor Day weekend allotted to August. Few were spared the sting, with all six of America’s and Japan’s biggest factories reporting double-digit declines.
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The U.S. Department of Justice has charged a Maryland dealership with offering different credit terms to different customers based on race, an allegation backed by reports from African American and white testers.
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