JB B.’s Post

DRIVING THROUGH INFLATION: NAVIGATING VEHICLE OWNERSHIP IN TURBULENT TIMES   Inflation has indeed made car ownership more expensive for Americans. From the initial purchase price to ongoing expenses like fuel, maintenance, and insurance, the impact of inflation is hard to ignore. However, by making informed choices, such as opting for used cars, prioritizing fuel efficiency, refinancing your car loan, and maintaining your vehicle diligently, you can navigate these challenging economic times and continue to enjoy the benefits of car ownership without breaking the bank. Partnering with On the Road Lending to obtain a life changing car loan for an affordable and reliable vehicle, offers a strategic solution that provides stability, cost-effectiveness, and long-term value to weather these economic challenges. Our loans can empower individuals to sustain their mobility by offering stable payments, lower operating costs, long-term value, and an improved financial position. To apply, visit www.ontheroadlending.org Learn more here: https://lnkd.in/e7ZHFDQM

🔌 Considering an Electric Vehicle for your next ride? Look no further! We’ve partnered with lenders offering substantial interest rate discounts exclusively for EV buyers. Meet Maxi, who secured a 1.5% interest rate discount on her new electric car loan compared to other offers. Ready to make the switch? Let us guide you to the perfect lender for your EV journey. #ElectricVehicle #SustainableDriving #GreenFinance 🌿🚗💡

Not only have auto loan delinquency rates reached the highest delinquency rates in 13 years - 7.7% of auto loans, on an annualized basis, according to the New York Fed… But car-related expenses remain on the rise even as gas prices have come down. Car insurance premiums rose 20.6% in January from a year earlier. A trip to the mechanic, the price of a parking space, and highway tolls are also up, offsetting the savings from one of the big exceptions, falling gas prices. When do these inflationary pressures subside? https://lnkd.in/gPmCNzUE #autofinance #autofinancing #repossession #lossrecovery

Used Vehicle APR up 80 basis points in the past 25 Days. Average rate now at 14.2 percent https://snip.ly/g3woat #glenviewfinance #subprimefinance #usedcardealer #autofinance #creditbuilder #independentdealer

Gaining operational efficiencies through artificial intelligence, navigating a challenging EV market and embracing the return of leasing were top themes at Auto Finance Summit East 2024 last week in Nashville. #autofinance #autoindustry https://hubs.la/Q02wh4wd0

The business of financing used EVs is lucrative in the current market. According to the Automotive News, on average a financed new EV sale's interest rate is 22% lower than a non-EV, however, a Used EV load interest rate on average is 40% higher on average than a new EV loan. Also, used EVs are not eligible for the used EV tax credit under the Inflation Reduction Act unless the used EV is at least two years old and the vehicle price is less than $25,000. According to Cox Automotive, used EVs are less than 1% of the market currently but are poised to grow provided charging infrastructure continues to grow and EV range & reliability improve. #ev #usedvehicle #sustainability #autofinance

Gaining operational efficiencies through artificial intelligence, navigating a challenging EV market and embracing the return of leasing were top themes at Auto Finance Summit East 2024 last week in Nashville. #autofinance #autoindustry https://hubs.la/Q02wg-xt0

Just data FYI "If you own an EV, I hope you're not planning to trade it in anytime soon. A new study by Edmunds shows that nearly a quarter of all new car buyers in America are underwater on their vehicle loans, and the offenders with the highest average loss are electrified." "The study shows that the average negative equity in a traded EV nearly doubled in two years, rising from $5,469 in Q2 2022 to a staggering $10,326 just last quarter." The biggest issue is a soft resale market for used EVs. Vote policies, not party

bit.ly/41nZJeM Vehicle depreciation can significantly impact your overall ownership costs but often goes overlooked when purchasing a car. It affects your car loan more than you might think! 🚗💰 #CarLoan #Depreciation #AutoFinance #ABP

What does the future of autofinancing look like in 2024? Buckle up as we unveil the road map for the upcoming changes, from interest rate dynamics to the evolution of vehicle inventory, in our latest blog post: https://lnkd.in/eWmfUNJR #AutoFinancing #InterestRates #Inventory #AutomotiveIndustry