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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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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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On June 6, Hudson Cook LLP attorney and partner Eric Johnson will join F&I and Showroom’s Gregory Arroyo for Part 1 of the magazine’s compliance webinar series. He will examine the likely candidates to take up the CFPB’s torch, and explain why F&I product pricing isn't out of the regulatory woods just yet.
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The firm attributed the slowdown to improvements in oil states and tightening underwriting guidelines, which have also helped stabilize delinquency rates.
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Group 1 Automotive’s 117 U.S. dealerships averaged $1,718 in F&I gross profit per retail unit, a 4.9% increase from a year ago and a new company record.
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As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution last month, all that's left to rescind the controversial guidance is President Trump's signature.
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The association’s first quarter business confidence survey reveals subdued expectations for sales and economic growth among independent dealers. One factor muting optimism is finance source availability and tighter credit guidelines.
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Digital retailing invaded the Las Vegas Convention Center in late March for NADA 2018, but its arrival did little to bring clarity to F&I’s cloudy future.
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Executives representing leading auto finance sources gathered at the American Financial Services Association’s 2018 conference to discuss the present and future consequences of inflated lease returns, declining used-car values, and rising interest rates.
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NADA Chairman Wes Lutz laid out the association's priorities and touched on a number of pressing topics at the American Financial Services Association (AFSA)’s 2018 Vehicle Finance Conference.
Read More →January saw a significant drop in lease originations, as finance sources placed a greater emphasis on loan incentives, according to Equifax. The firm also reported that subprime accounts fell to their lowest share of the market since 2006.
Read More →When a financed or leased vehicle is in a licensed mechanical or collision repair facility for more than seven days, Charter Warranty’s new program will reimburse a portion of the vehicle’s monthly payment for up to three months per eligible repair.
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