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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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TransUnion analysts report more consumers in the prime and superprime credit tiers are choosing to buy used as off-lease units continue to flood the market, offering a budget-friendly alternative to increasingly expensive new cars.
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Spireon announced the addition of a Spanish-language version of its flagship GPS platform at the National Independent Automobile Dealers Association’s annual conference.
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PassTime announced the addition of AT&T Internet of Things connectivity to its suite of automotive and powersports asset management products and solutions.
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A 2016 cyberattack laid bare the personally identifiable information of about 12.5 million customers of 130 U.S. dealerships, according to a Federal Trade Commission bulletin announcing a consent agreement with dealer software provider DealerBuilt.
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An expanded partnership that includes a new integration between Dealertrack and Teledata Communications was designed to enable increased efficiency and faster funding for more auto finance sources.
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More consumers in the prime and superprime credit tiers opted for used vehicles as concerns around affordability grew in the first quarter, according to the latest report from Experian.
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Kelley Blue Book analysts say a parade of new models helped drive the average price for a new vehicle sold in the U.S. to $37,185 in May, a 3.7% year-over-year increase.
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As higher price tags and interest rates push more prime-credit car buyers toward the used-car lot, credit unions continue to add members, market share, and dealership partners.
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The Federal Reserve Bank of New York’s Q1 U.S. household debt report finds auto loan and lease originations declined slightly year-over-year — except for sub-620 customers — while 90-day delinquencies grew by 9.2%.
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Wantalease.com analysts report relatively flat lease pricing across most major brands, but increases on several popular models should give dealers enhanced latitude for holiday weekend lease discounts.
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