Friday, November 27, 2020
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TikTok

What Do Dealerships and Bank Conversions Have to Do With TikTok?

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Recently, a video by TikTok user Molly Baxter shared a shady business practice perpetrated by a few F&I managers that received thousands of views. This should get your attention! Baxter’s video should tell you exactly why customers are walking into dealerships with checks made out for the exact amount; they’re fed up with the games.  […]
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pandemic recovery

Major Purchases Surge, Showing Pandemic Recovery in Motion

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Around ten weeks ago on March 15th, the Federal Reserve slashed benchmark interest rates to 0.25 percent to kickstart the pandemic recovery effort. It’s forecasted that the Fed rate will be leveled off at an even zero percent as of June 10th, although cases are being made by Goldman Sachs, Fed economist Yi Wen, and […]
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subprime

Working with Subprime Shoppers Part of the New Normal?

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The US economy will rebound, as it always does. Between today and an eventual stabilization, there are bound to be significant challenges for business and consumers alike. Retailers like JC Penney, J Crew, and Neiman Marcus have filled for bankruptcy among the disruption, and Fitch Ratings forecasts that institutional loan default rates will climb from […]
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July 2019

Nominal Gains Only Tell Part of the Story For July 2019...

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According to NADA, overall new light-vehicle sales took a small hit in July. Unit sales for the month came in at 1.39 million. Even though this number is higher than last year’s 1.36 million during July, the seasonally adjusted rate (SAAR) is still coming in under 17 million at 16.82 million.  Even with strong showings […]
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interest rates

June Sales Results Meet Expectations as Dealers Invest in New Pricing...

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While the final numbers are still slated to come in, June’s sales results are estimated to bring 2019’s SAAR to between 17 million and 17.2 million. This number is relatively smaller than the projected sales goal of 17.3 million. May brought hope, but June is bringing back slight uncertainty and some previous concerns of analysts […]
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Kelley Blue Book

10 of the Coolest Cars Under $20,000 for 2019 from Kelley...

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There are some cool cars getting on the road this year, and by cool we mean fun, techy, versatile and affordable. Those are the criteria Kelley Blue Book used to identify the coolest cars of 2019. Their top ten list looked at vehicles priced at under $20,000 that also met the driving and style needs […]
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April’s Auto Sales: Upswing in Luxury Vehicle Demand

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March was deceptively positive. The month had a slightly stronger showing than analysts originally predicted. While most automakers floundered, the month ended with a SAAR of 17.45 million units. The story of April is likely to be less favorable. Cox Analysts are predicting a one percent year over year increase, and an estimate of 1.37 […]
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used-vehicle

Rising New-Vehicle Prices Lead to Boom in Used-Vehicle Market

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As new-vehicle prices continue to rise, so do interest rates. To compound the issue, manufacturers also seem to be getting stingier with incentives. This puts the cost of owning a new vehicle out of reach for more and more buyers.  Used-cars are becoming an increasingly popular alternative to buying new. Because of this, the used-vehicle […]
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Auto Loan Interest Rates Continue to Soar

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Auto loan interest rates continue to go up, according to a recent Edmunds analysis, with rates reaching their highest in a decade. Looking at the data collected, the annual percentage rate (APR) inched up from last year’s 5.19 percent on new cars to 6.26 percent, marking a 1.7 percent increase from five years ago. For […]
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auto sales

High Prices and Concerns over Tax Refunds Cause Auto Sales to...

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As the nation goes through yet another winter freeze, the cooling effect seems to have also extended to the auto industry. Overall sales in February dropped 2.8 percent when compared to last year for a final total of 1.26 million. The month’s poor performance makes it more likely that the annualized rate will hover around […]
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