Edmunds analysts say Black Friday promotions helped suppress new auto loan interest rates last month, registering a year-to-date low of 5.5% and an 8.3% year-over-year decline.
A joint statement from the nation’s biggest banking regulators expressed cautious optimism toward emerging decisioning models that could generate more auto loans.
Kelley Blue Book reports the average cost to buy a new vehicle was $38,393 last month, a 1% year-over-year increase restrained by frantic efforts to move 2019-MY inventory.
The latest report from Wantalease.com finds several factories already offering lease discounts ahead of the usual year-end rush.
Prices for used vehicles declined 4.2% in the first 10 months of 2019 while volume increased 5.2%, J.D. Power analysts say, a trend that has begun to affect the commercial market.
Equifax analysts say U.S. auto loan and lease originations declined 0.6% and 3.9% year-over-year in the first half of 2019, but balances for new vehicle loans were up 2.6%.
Dealers on the CDK Global DMS can now import lease deals into Digital Contracting on the Dealertrack uniFI platform, part of an upgrade also designed to benefit finance sources.
The Federal Reserve reports U.S. car buyers borrowed $159 billion in the third quarter, a modest gain powered by a 6% increase in originations to prime credit customers.
Ford Motor Credit is No. 1 in J.D. Power’s latest rankings of customer satisfaction with auto finance companies. Analysts say the metric is increasingly driven by the digital experience.
Kelley Blue Book analysts say the average new vehicle transaction climbed to $38,259 in October, a slight decline from the prior month but 2.9% higher than a year ago.
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