Low interest rates and longer loan terms have been a saving grace for vehicle sales, according to Experian’s latest State of the Automotive Finance Market report. Affordability remains a challenge, however, and consumers with the top credit backgrounds are returning to the used-vehicle market for deals. Melinda Zabritski, Experian’s senior …
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Prime and above customers fled the new-car market in recent years, finding quality and cost-effective alternatives on used-car lots. But aggressive incentive activity from automakers in the second quarter reversed that trend, credit bureau Experian said last week, allowing captive automakers to reclaim market share of its most desired consumer …
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Labor Day, that languorous final long weekend of summer, is here. Sort of. As if we’ve had a summer. As if the kids are headed back to school. Like there’s anything about the world that’s how it has always been. That said, the Labor Day weekend is normally an opportunity …
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Leasing, which comprises nearly one-third of new-vehicle sales, dropped in April to the lowest levels since 2015 as the coronavirus pandemic collapsed the top two leasing markets in the country and automakers saturated the market with loan incentives. Rising customer demand prompted automakers to pull back on many of those …
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Three out of four new-car dealers could accurately identify critical safety features aimed at making new cars safer for teen drivers, but only after most were prompted by shoppers to identify those features — and most of their information was vague. That’s according to a study released last week by …
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Peace of mind doesn’t come easy or cheap. Yet some automakers offer peace of mind through long-term warranties to lure shoppers into showrooms. A good warranty can go a long way. Hyundai in 2000 offered a 10-year/100,000-mile warranty that revolutionized the way people looked at that brand. Its South Korean …
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GM Financial is putting much of the deal structure into F&I managers’ hands to speed up the car-financing process and make financing available to dealers and most customers any time of day. GM Financial’s Approval Center tool allows dealers to adjust the deal structure after General Motors’ captive approves customers’ …
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