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Jerry research reveals their delinquency rates rival those of the financial crisis of 2008 and 2009.
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Federal Reserve keeps interest rates steady but signals borrowing costs will increase by another half of a percentage point by year’s end.
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Inflation-fighting series cuts further into consumers’ ability to afford purchases such as cars.
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Fed announces fourth consecutive ‘jumbo’ increase in effort to slow inflation.
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Fed Chair Jerome Powell has said the committee plans to complete tapering before raising rates, and markets are targeting June as the possible date for the next rate hike.
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Lease credit approvals reached 70.8% in February; Up slightly from 68% in January.
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The National Automobile Dealers Association estimates U.S. new vehicle sales will fall to 16.8 million units as internal and external forces reshape the auto retail industry.
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Kerrigan Advisors’ latest Blue Sky Report finds the pace of U.S. dealership buy/sell activity quickened in the third quarter and could accelerate further in Q4.
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A joint statement from the nation’s biggest banking regulators expressed cautious optimism toward emerging decisioning models that could generate more auto loans.
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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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