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Black Book reports retained values for used vehicles decreased sharply last month. If the index holds through December, it will end 2019 on a year-over-year decline of nearly 2%.
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Sales of pre-owned and CPO units show no signs of slowing. Here’s how savvy dealers and F&I professionals are taking advantage.
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The latest report from Wantalease.com finds several factories already offering lease discounts ahead of the usual year-end rush.
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Prices for used vehicles declined 4.2% in the first 10 months of 2019 while volume increased 5.2%, J.D. Power analysts say, a trend that has begun to affect the commercial market.
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Equifax analysts say U.S. auto loan and lease originations declined 0.6% and 3.9% year-over-year in the first half of 2019, but balances for new vehicle loans were up 2.6%.
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Dealers on the CDK Global DMS can now import lease deals into Digital Contracting on the Dealertrack uniFI platform, part of an upgrade also designed to benefit finance sources.
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The Federal Reserve reports U.S. car buyers borrowed $159 billion in the third quarter, a modest gain powered by a 6% increase in originations to prime credit customers.
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Ford Motor Credit is No. 1 in J.D. Power’s latest rankings of customer satisfaction with auto finance companies. Analysts say the metric is increasingly driven by the digital experience.
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Black Book’s latest Used Vehicle Retention Index report shows retained values for light trucks declined at a faster rate than many car segments.
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Ten-year auto finance veteran Scott Maybee has been named president of NextGear Capital after serving as general manager of Manheim Northstar Minnesota.
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