How your dealership can move beyond the limits of a FICO-only credit judging system. #autofinance #autoindustry #automotive
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Dealers have cars and prices are stabilizing, but people still can't buy a car. Here's why: “it's critical to come to the table with a comprehensive budget and a feel for the financing elements of a car purchase beyond the monthly payment, including the APR,” https://lnkd.in/gVMfCTTp #automotiveindustry #autodealers #learninganddevelopment #rocked #dealership #cardealership #automotivetraining #automotive #
Dealers have cars and prices are stabilizing, but people still can't buy a car. Here's why
usatoday.com
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Do you know the role auto lienholders play in used car sales? 🚗 Learn what the phrase "auto lienholders" means to independent dealers. https://lnkd.in/g9vgmrQ3
What is an auto lienholder?
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With inventory rising and interest rates high, auto dealers get a boost from OEM incentives. #auto #autodealerships #incentives https://lnkd.in/geQyJrjB
Manufacturers’ Incentives Ease Sticker Shock
wardsauto.com
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Automotive News covered our recent "Future of Auto Finance" snapshot survey of credit union professionals, highlighting the data showing that 71% of credit unions plan to expand or deepen car dealership relationships in 2024, and that 59% thought their portfolios would benefit by adding auto leasing in 2024. CULA president Ken Sopp also offered his insight, predicting that leasing would grow industry-wide, expecting its rebound would be "the story of 2024." Click here to read the full article: https://lnkd.in/gaMnP3P3 #CreditUnions #VehicleLeasing #cardealers #LendingSolutions #autoindustry #AutoLending #AutoFinance #automotive #cars
Credit unions plan to grow auto dealership relationships in 2024
autonews.com
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Alliance Director: Creating mutually beneficial strategies and outcomes through collaborative partnerships.
Interesting piece on how the auto market was performing at the end of last year.
The Automotive Finance Market Shows Signs of Optimism in Q3 2023
experian.com
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If you’ve been vehicle shopping recently, you might have noticed that the car dealership ran your credit multiple times. Don’t panic just yet! 🚘 Our article explains why the car dealership ran multiple hard inquiries on your credit report, and what it means for you. #personalfinancetips #financegoals #personalfinancecoach #financialgrowth #financialgoals
“Car Dealership Ran My Credit Multiple Times” - Here's What to Do
creditanddebt.org
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Autos. With more auto sales come more auto loans. As we get further away from supply chain issues, lots start to get full again, just as rates are starting to fall...could be a good year for auto lending. "Analysts project industrywide sales of new cars for the U.S. could reach nearly 15.5 million in 2023, about a 13% increase from the prior year, once all car companies have released their figures" "Supply-chain snags, manufacturing disruptions and poorly stocked dealerships have weighed on new-vehicle sales since the start of the pandemic, leading the U.S. auto industry to report its worst sales year in more than a decade in 2022. Through the first nine months of 2023, sales rose by a double-digit percentage" "We're finally getting back to the traditional buyer's market" "Rather than relying on pent-up demand, auto dealers will have to start courting buyers again" "Cox Automotive projects modest sales growth for 2024 with forecasts of about 15.6 million in annual sales" "While car prices remain far above what they were in 2019, the average price paid for a new vehicle peaked in December 2022 and fell further last year to about $46,055 last month, according to research firm J.D. Power." #auto #rates #markets #lending #credit #consumer
U.S. Auto Sales Bounced Back in 2023
wsj.com
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SMS Leads: What to Know About Pre-Qualifying for a Car Loan: Welcome to the world of auto finance pre-approval! Think of pre-approval as seeking approval for a car loan before visiting a dealership, allowing you to understand your budget before heading to the dealer. Getting pre-approved isn’t always a necessary step in car buying; however, by knowing how much you can afford and the interest rates […] The post What to Know About Pre-Qualifying for a Car Loan appeared first on TrueCar Blog. http://dlvr.it/T9VyFs www.CarsBuyText.com #cartalk #Cars #carsofinstagram
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Used car loans are at record levels as new car buyers pay cash ParticipationShare the article on FacebookShare the article on TwitterShare the article on LinkedInShare the article by email Automotive buyers are going to dealerships on the lookout for a very good price, but they’re changing the best way they pay for brand spanking new trips. – CNBC’s Phil LeBeau reports. 01:58 Thu, December 3, 20209:04 a.m. EST The post Used car loans are at record levels as new car buyers pay cash appeared first on Everything Auto Finance.
Used car loans are at record levels as new car buyers pay cash ParticipationShare the article on FacebookShare the article on TwitterShare the article on LinkedInShare the article by email Automotive buyers are going to dealerships on the lookout for a very good price, but they’re changing the best way they pay for brand spanking new trips. – CNBC’s Phil LeBeau reports. 01:58 Thu, Decem...
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Our Q3 State of the Automotive Finance Market Report shows that the average vehicle loan amount for new and used vehicles decreased after mostly rising over the last three years. For a summary on Q3 vehicle financing trends, read our press release.
Melinda's Quote on Vehicle Affordability
businesswire.com
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