Interest rates and prices keep payments, negative-equity share high.
Fourth-quarter numbers show the consequences of pandemic-era practices.
Current market trends are playing right into the F&I product pitch, but they also reveal trouble ahead for the automotive retail industry at large.
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.
The magazine’s compliance pro dusts off his crystal ball to offer a few predictions for 2017. If he’s correct, F&I offices could be in for a challenging year.
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