It’s pretty easy to understand that a cleaner car is likely to sell than a dirty one, but do you also have paperwork to back up your claim that the car was only serviced at the dealership? You want to get the best price, sure, but “aggressive negotiations” work better …
Read More »Used-car values could pose challenges for U.S. captive lenders
The coronavirus pandemic is far from over. And as some elements of the federal stimulus program — such as additional unemployment funds and financial hardship protections — that have helped keep the U.S. economy afloat come to a close, captive automotive lenders can expect more challenges ahead. One potential area …
Read More »Used-Car Buyers Could Suffer as Wells Fargo Cuts Off 1000+ Car Dealers for Loans
Justin SullivanGetty Images The economic uncertainty of the coronavirus pandemic has forced Wells Fargo’s bank to stop processing auto loans with as many as 1100 independent dealerships and refocus on dealers it already has deep relationships with. The change is likely to affect used-car shoppers more, but they can still …
Read More »Used-Car Buyers Could Suffer as Wells Fargo Cuts Off 1000+ Car Dealers for Loans
Justin SullivanGetty Images The economic uncertainty of the coronavirus pandemic has forced Wells Fargo’s bank to stop processing auto loans with as many as 1100 independent dealerships and refocus on dealers it already has deep relationships with. The change is likely to affect used-car shoppers more, but they can still …
Read More »GM, Ford captive financiers may lose billions on used-car price plunge
The captive finance arms of General Motors and Ford Motor Co. likely face multibillion-dollar losses linked to the dramatic drop in used-vehicle prices, JPMorgan Chase & Co. analysts said. Prices are falling faster and steeper than JPMorgan was expecting, lead analyst Ryan Brinkman wrote in a report Monday, citing mid-month …
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