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The rise in new-vehicle prices continued in the second quarter, with more consumers turning toward the used market and leasing. Loan terms also continued to stretch.
Read More →Shoppers were increasingly drawn to “near-new” used vehicles with higher price tags in the second quarter, with the average price of a used car increasing 8% from last year, according to Edmunds.
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Delinquencies remained in check despite total outstanding auto loan balances rising to an all-time high, signaling a healthy automotive credit climate.
Read More →The Office of the Comptroller of the Currency said in its semiannual report that stretching terms and higher advances are a concern. The agency said it will continue to monitor the market and will take action when warranted.
Read More →The average loan term for new and used vehicles has increased by one month, reaching new all-time highs of 67 and 62 months, respectively, according to a new report from Experian.
Read More →Loan terms in the first quarter 2014 stretched to their highest level since the company began publicly reporting the data in 2006.
Read More →Terms are stretching, but the firm believes record lease penetration should maintain a healthy supply of future vehicle buyers with shorter purchase cycles.
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