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Interest Rates Further Squeeze Auto Consumers
Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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F&I Showroom Magazine
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SEARCHMENUSEARCHLast month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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LendingTree analysts have discovered a correlation between commute times and auto loan balances, finding that car buyers borrow $269 for every additional minute between home and work.
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The average interest rate for a U.S. new-vehicle loan fell below 6% for the first time all year as automakers and dealers extended model-year selldown promotions.
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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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