Auto loans, which are historically less expensive to incentivize, received the most aggressive offers this spring from captive finance companies, with no-interest, seven-year loans driving new-vehicle sales in the early days of the pandemic. Leasing levels concurrently fell industrywide, according to J.D. Power data, and remain below prior-year levels. The …
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Credit unions ceded market share to automaker lenders wielding aggressive incentives in the spring. But used-vehicle lending remains a bright spot for credit unions amid the coronavirus pandemic as used-car values skyrocket. All non-captive auto financing companies forfeited market share to automaker lenders boasting 0 percent interest, seven-year car loans …
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When NBA legend Larry Bird would enter the league’s three-point shooting contest, he’d confidently ask: Who’s playing for second place? According to Experian, when it comes to new-vehicle auto originations right now, captive lenders are Bird and banks and credit unions are playing for second place. Efforts to slow the …
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