Tag: auto loans
How to stay competitive with online VSC companies
Since the pandemic hit, dealers are finding that the landscape of online aftermarket providers has increased, and they are targeting consumers that want to...
Fraud is on the rise in lending — here’s how to...
2021 was a year of recovery for the entire automotive industry, and for dealers in particular. Showroom traffic increased even during a once-in-a-generation inventory...
Auto loan defaults and car repossessions are rising—should car dealers be...
Dealership owners are concerned as repossessions continue to increase. According to the Cox Automotive Industry Insights 2021 presentation, repossession in 2020 was the lowest in...
Study reveals low financial confidence among consumers—what does this mean for...
Data United LDS has released the results of its 12-year study surrounding consumers’ debt and the stress that comes with it, which showed that a...
How auto dealers can help promote greater financial literacy
Around half of Americans operate day-to-day with a limited understanding of finances. That's according to the annual Personal Finance (P-Fin) Index study jointly performed by the...
Average down payment for new vehicles climbs over $6,000
According to Edmunds, the average down payment for new vehicles climbed to over $6,000 for the first time. And it's becoming evident that this...
Subprime loans recover, delinquencies drop in new TransUnion report
Subprime loans for autos have sprung back to nearly pre-pandemic levels, and fewer borrowers are defaulting on their payments. That’s according to TransUnion's Q3...
How can floor plan financing work for used car dealers?
There are many factors that go into a used car dealership’s success or failure — customer service, management, and just plain ol’ luck —...
A look under the hood: the rising cost of car ownership
As American consumers face surges in both gas and vehicle prices, it’s no secret that the cost of car ownership is rising. But this...
Auto Market Summary points to slight market correction
Cox Automotive released its latest auto market weekly summary Monday and while some trends continued, others slightly veered off course. Jobless claims were up,...
