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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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Ron Lamb, who was named president of the software firm in October 2010, has stepped down from his post. Officials said the position will not be immediately filled.
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The firm today reported that average amounts financed for new and used reached record highs of $30,621 and $19,329, respectively. Total balances also reached a record high, although Experian observed a slowing in year-over-year growth.
Read More →The fintech firm today announced it has surpassed 200,000 downloads of its native iOS and Android smartphone apps. The company’s platform allows car shoppers in 46 states to secure financing on a specific vehicle before heading to the dealership to complete the deal.
Read More →F&I Express is sponsoring the 2017 F&I Digital Media Awards in partnership with F&I and Showroom.
Read More →RouteOne has promoted Jeff Belanger to senior vice president of sales and created the position of vice president of strategy for Amanda George.
Read More →Wholesale used-vehicle prices in January averaged $10,945, a 6.7% increase from a year ago and a 2.8% rise from the prior month, according to ADESA Analytical Services.
Read More →The company announced the appointment of Ed Brown as president. He succeeds Brent Sergot, who was promoted to group vice president with World Omni Financial Corp.
Read More →After four weeks of living below 0.37%, the depreciation rate for the truck segment reached its highest level in February — and its second-highest this year — last week, according to Black Book’s Feb. 27 Market Insights report.
Read More →The vehicle valuation firm said the depreciation rate will rise from 17.3% in 2016 to 17.8%, while Fitch said Auto ABS performance will continue to slow in 2017 as losses slowly rise to more normalized levels.
Read More →CNA National Warranty Corp. (CNAN) returned more than $40 million to automobile dealers across the U.S. through its various participation plans for 2016, the company announced this week.
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