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Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
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SEARCHMENUSEARCHThe youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
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SelectCare was designed to cover parts not covered by the factory warranty, vehicle service contract or prepaid maintenance plan.
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Luxury vehicles continued to struggle last week, leading all segments in terms of depreciation. The other big story was the performance of cars, which continued to retain their values better than trucks.
Read More →DRIVIN this week announced it has signed an agreement to license Chrome Data’s Automotive Description Service (ADS) to enhance its inventory-sourcing marketplace.
Read More →Eleven Manheim auctions took home 15 national and regional awards at this month’s Conference of Automotive Remarketing. Big winners were Manheim Seattle, Manheim Dallas and Manheim Statesville.
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The more than 1,000 credit unions on CU Direct’s lending platforms maintained their No. 2 spot on Experian’s auto finance leaderboard in January. And with plateauing demand for new vehicles expected to drive up pre-owned sales, the market appears ripe for credit unions to reap further market share gains.
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The nine-store, Los Angeles-based Sage Automotive Group will pay $3.6 million to settle charges of deceptive and unfair sales and financing tactics, including yo-yo financing and payment packing.
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Tom Webb will retire on June 30 as Cox Automotive's chief economist, ending a more than four-decade career.
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GAP rates are on the rise. Insiders say dealers should welcome the increases, adding that the performance of this core F&I product points to a severe slowdown in the next 24 months.
Read More →Car lease credit applicants registered a 72.2% approval rate in February, a 33.3% increase from January’s 50% approval rate but flat with a year ago, according to Swapalease.com.
Read More →Small pickups led the way, but cars also showed retention strength during a month in which the average price of a used vehicle for model years 2011-2015 depreciated by 0.8%.
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