Swapalease Releases Latest Figures on Lease Credit Approvals
Lease credit approvals reached 70.8% in February; Up slightly from 68% in January.
March 15, 2021
Lease credit approvals reached 70.8% in February; Up slightly from 68% in January.
March 15, 2021
Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.
September 19, 2019
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.
August 1, 2019
The Federal Reserve on Wednesday raised interest rates for the third time this year and signaled it will raise the cost of borrowing again in December. Industry economists said it will not get better for consumers or the industry from here.
September 27, 2018
June’s annual percentage rate of 5.82% marked a 17% increase since January 2018. Add rising rates to a virtually saturated U.S. market, record-high vehicle prices, and historically high numbers of people who owe more than their cars are worth, and the stage is set for a market contraction, the firm said.
July 5, 2018
For the seventh time since 2015, the Federal Reserve increased the Federal Funds Rate a quarter percentage. Cox Automotive economists say higher interest rates and tighter credit have already led to softening retail demand, noting that further rate increases will impact all corners of the car business.
June 14, 2018
The Federal Reserve voted unanimously to maintain the target range for the federal funds rate at 1.5% and 1.75%, but it hinted at a possible rate hike in June.
May 3, 2018
Edmunds analysts say the industry is beginning to see the trickle-down effect from the rate increases happening at the federal level. February's annual percentage rate on new finance vehicles was expected to average 5.2%, up from 4.9% in the year-ago period.
March 5, 2018
One industry analyst said the quarter-point hike will result in new-vehicle sales dropping below 17 million units in 2018, noting that the Fed Reserve’s previous three increases are responsible for fewer new leases and this year’s shift from new to used.
December 14, 2017
The Federal Open Market Committee (FOMC) voted 9-1 on March 15 to raise the target range for the federal funds rate by a quarter percentage point to 0.75% to 1% — a move that was widely expected.
March 16, 2017
While the industry welcomed the Fed’s 7-3 decision not to raise interest rates a quarter point, market watchers say even a full percentage-point increase wouldn’t impact the current pace of auto sales. The Fed is still expected to raise rates a quarter point by the end of the year.
September 22, 2016
The FRB and CFPB announced on Nov. 25 that 2016 dollar thresholds for Reg. Z and M exemptions will remain unchanged from 2015. The AFIP says the accepted practice for processing transactions above the threshold will also remain unchanged.
December 29, 2015
The Federal Reserve voted unanimously today to increase its target funds rate by a modest quarter point. One market research firm believes that could cut into sales by 150,000 units.
December 16, 2015
The Federal Reserve is looking into costs associated with the Consumer Financial Protection Bureau's renovation of its headquarters, which have ballooned to three times the original estimate.
February 18, 2014
The U.S. Department of Justice settled a lawsuit filed against the former Union Mitsubishi of Los Angeles. The suit claimed the dealer charged non-Asian customers higher interest rate markups.
September 12, 2013
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