Cutting transaction times was the No. 1 focus for franchised dealers in 2016, but it wasn't the top painpoint for car buyers, according to DealerSocket's 2016 Dealership Action Report.
The largest share of outstanding student loans is held by graduates age 30 to 39, according to the firm. Many of these graduates belong to the millennial generation, which, according to Pew Research, have overtaken Baby Boomers as the nation’s largest living generation.
CU Direct's credit union network was the No. 3 auto loan originator in the first quarter. However, the network posted the highest year-over-year growth in auto originations.
The average price of a used vehicle for model years 2011-2015 depreciated 1.5%, slightly less than last month (1.7%) but slightly higher than a year ago (1.4%), according to Black Book.
June wholesale used-vehicle prices reached their highest level in four years, rising for the third consecutive month, according to Manheim.
A report form the CFPB found that about 20% of auto title loan borrowers end up having their car or truck seized by the lender for failing to repay their debt. Eighty percent fall into a debt trap, with more than 66% having to take out seven or more consecutive loans to fully repay their debt.
High delinquency rates for auto loans and credit cards in the first quarter pushed national average delinquency rates to levels not seen in at least three years, according to TransUnion. Much of the increase can be attributed to the continued slump in oil prices and an increase in loans made to customers with nonprime credit.
The percentage of alternative-fuel vehicles in the overall automotive market has dwindled over the last three years, the NADA Used Car Guide said this week. Hybrids continue to make up the majority of the alternative fuel market, but data does show consumers are beginning to shift toward electric vehicles in greater numbers.
A new analysis by Equifax economists shows the median consumer credit score increased by 52 points after taking out a subprime auto loan.
Vehicle depreciation is expected to increase in 2015 as a larger used-car supply and off-lease volumes place pressure on retention rates, according to a report from Black Book and Fitch Ratings.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In