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The Federal Reserve on Wednesday raised interest rates for the third time this year and signaled it will raise the cost of borrowing again in December. Industry economists said it will not get better for consumers or the industry from here.
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With 78% of Americans living paycheck to paycheck, F&I insider says it’s time for F&I producers to change their approach.
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Consumers spent an average of $900 more on new cars in the fourth quarter 2012 than they did in the third quarter, according to Comerica Bank's Auto Affordability Index.
Read More →The Chrysler 300 tops KBB.com's "10 Most Comfortable Cars Under $30,000" list. The 2012 Volkswagen Passat also was a big winner.
Read More →A report by Comerica Bank indicated that the purchase and financing of an average-priced new vehicle took 23.1 weeks of median family income in the fourth quarter of 2011, the best affordability reading since the third quarter of 2009.
Read More →Auto affordability fell in the third quarter, continuing the declining trend since affordability peaked in 2009, according to Comerica Bank.
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