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As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
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Central bank waiting to see what happens under Trump administration. Auto loan rates, meanwhile, are rising again.
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Average for new and used vehicles decreased in the third quarter.
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Mike Stanton shares what’s needed to bridge the gap between EV demand and government goals.
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Dealerships should focus on selling products to cash and credit union financing customers rather than trying to convert them to finance deals, although they shouldn’t discount the latter.
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Federal Reserve keeps interest rates steady but signals borrowing costs will increase by another half of a percentage point by year’s end.
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Economic headwinds are not deterring sales, Cox Automotive analysts find.
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Despite a stronger Q2 market, negative sentiment lingers over weak economic conditions and high interest rates, Cox Automotive says.
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Larger inventories and greater fleet sales boosted light-duty sales.
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Affordability challenges may dampen spring auto sales, finds Cox Automotive Auto Market Weekly Summary.
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