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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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F&I Showroom Magazine
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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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Facing new global realities and pressure on multiple fronts, the Federal Reserve cut interest rates for the first time in more than a decade in an attempt to prolong the economic expansion.
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PowerBand Solutions is set to purchase 60% of the parent company of MUSA Auto Finance, a move designed to give PBX a competitive edge in acquisition, leasing, lending, and auction services.
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Wantalease.com reports moves made by an ‘aggressive’ Nissan highlighted the month in auto leasing, maintaining an industry-low price for the Sentra and offering big discounts on the Titan and Pathfinder.
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PassTime and masterQueue have partnered to combine the former’s GPS expertise with the latter’s AI-driven automated skip tracing and debt collections process.
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US Equity Advantage has expanded its Orlando headquarters by 40% to accommodate a growing workforce.
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Swapalease.com analysts say credit approvals declined after reaching 72.4% in May but report growing demand from consumers seeking lease contracts negotiated when incentives were stronger.
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The auto finance segment is growing at a healthy rate, but average new-vehicle loan amounts are outpacing the market, driving an increasing number of car buyers — including those with prime and superprime credit scores — out of the showroom and onto the used-car lot.
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A new partnership between Inovatec Systems Corp. and ZestFinance was designed to leverage artificial intelligence in an effort to enhance auto lending processes.
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Black Book analysts say full-size vans and premium sports cars helped used-vehicle values start summer on a strong note, ticking up 0.6% from May to finish at 115 in June.
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Kelley Blue Book analysts report average transaction prices for U.S. new-vehicle sales increased by 3.1% on a year-over-year basis in June but declined slightly from May.
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