There are some signs of hope that this bonkers used car market is slowly improving in the interest of buyers. While some segments are presenting some strong values, other areas are maintaining some serious premiums. To help buyers navigate the still complicated times of purchasing a car, iSeeCarsreleased a study sharing where you can get the best value for pre-owned models this spring.
Monday marked the first business day — or perhaps the third sales day depending on your dealership’s hours of operation — of the second quarter, which most dealers view as strong for the market.
The parent company of subprime lender TitleMax says hackers made off with the Social Security numbers and financial account information of up to nearly 5 million individuals.
Independent agents can tailor the shopping process to customers’ financial needs using comparison software and rating tools – a huge advantage over online, do-it-yourself policy shopping.
An old, unwritten rule of car sales tells dealers and factories to work together to keep about a 60-day supply of each new vehicle on hand for sale, with another 15 days on order or in transit. That, the pragmatism says, means that dealers have most color and feature combinations a buyer could want in easy reach.
New-vehicle supply closed February higher than it ended January despite surprisingly strong sales, according to Cox Automotive’s analysis of vAuto Available Inventory data. The average listing price edged lower.
The Federal Trade Commission has launched an inquiry into the small business credit reporting industry, ordering five firms in that industry to provide the Commission with detailed information about their products and processes.
After a strong January, certified pre-owned (CPO) sales in February rose another 1.9% month over month to finish at 205,946, up nearly 3,900 units. This total is up 7.3%, or over 14,000 units, compared to last February.
Borrowers with low credit scores are falling behind on their car loan payments as inflation eats away at consumer spending power. A report from Cox Automotive found 1.89% of auto loans in January were "severely delinquent" and at least 60 days behind payment, the highest rate since 2006.
Millions of Americans are driving cars that have recalls, a staggering thought considering safety is at play. However, many drivers do not fully understand how the recall process works, or mistakenly believe that bringing in a vehicle for recall repair means they will have to come out of pocket for the expenses.
Considering the resale value of any new car, truck, or SUV before signing on the dotted line is a good idea. These SUVs with the best resale value for 2023 topped the Kelley Blue Book’s list and have plenty to offer. The sport utility vehicles below from brands like Ford, Subaru, and Toyota can help save money in the long run by holding onto value over the first few years of ownership.
Chris Martin knew he needed a bigger car as the birth of his fourth child approached, but he and his wife were already $14,000 underwater on their two vehicles.
As it turns out, the reports of the manual transmission’s death are greatly exaggerated. In just two years, the take-rate on stick-shift cars has nearly doubled. A new report from The Wall Street Journal using data from J.D. Power sheds light on just how many people are choosing to row their own gearsin a new car.
Federal Reserve Bank of San Francisco President Mary Daly said policymakers will likely need to raise interest rates higher and maintain them at elevated levels for a longer period of time.
Can “Mom & Pop” dealerships survive in the current era of auto retail consolidation, or has every local market reached the point of “grow, or die?”
There is only one week remaining of the 2023 Utah Legislative Session. Committee meetings end on Tuesday and the floor time for the House and Senate will go later into the evening, with it all ending on next Friday at midnight. Although the session is only forty-five days, the Utah Legislature is able to accomplish a lot. There have already been over 800 bills filed for the session with the anticipation of 500 of those bills being heard and passed. The legislature also made public the near $28 billion dollar budget for the state. It includes nearly $1 billion in ongoing and one-time money for education, more than $400 million for water conservation, with a big focus on the Great Salt Lake, a tax cut package of $400 million, and over $200 million for affordable housing and homelessness in Utah.
Read MoreThe data is coming in, and it's not looking pleasant.
New data indicates that used car prices in the US will soon increase again, following a steady decline for most of last year.
The U.S. consumer watchdog on Thursday fined TitleMax $10 million, saying the Georgia-based title lender illegally made thousands of auto loans to military borrowers over a five-year period, often charging interest rates well above legal limits.
The average price of a used car dropped by $633 in the past month, but some industry experts say the recent stretch of declining prices could be coming to an end.
You may have heard encouraging words about buying Certified Pre-Owned (CPO) trucks, but before you run to your certified used truck dealer to request their finest CPO truck, you should become more familiar with some of the programs offered by truck manufacturers. The term “Certified Pre-Owned” specifically indicates cars, trucks, SUVs, and vans that are part of a manufacturer’s CPO program.