Online used car dealers are thriving with the computer chip shortage and a pandemic upending the auto industry. In 2021, sales at the three most significant online merchants - Carvana, CarMax and Vroom - were up more than a third from the previous year.
A newly-purchased car or even a used car is a thrilling experience for most of us. Going from a prospective buyer to becoming a proud owner is an exhilarating experience, and for some, that excitement is so overwhelming that they submit fraudulent loan applications.
The shortage of vehicles at dealerships over the past two years has prompted more consumers to order cars from manufacturers.
The previous few months have seen an increase in car buyers accepting longer loan terms to make monthly payments smaller. Because new auto loans have been stretched out, borrowers are now being offered some of the most favorable terms in quite some time.
Intending to build a better America, the Biden-Harris administration released the Bipartisan Infrastructure Law to pave the path for a zero-emission future. The plan would focus on creating a cleaner and affordable car future and generating employment opportunities across the American supply chain.
Used car prices have spiked for months due to low new car inventories, which resulted from a chip shortage. It is not breaking news, but accounting firm KPMG said in a new report that prices have fallen so far out of whack that negative equity has become a problem and probably will continue to be.
The trend of used car prices steadily rising has been reported all year.
During the winter of 2019, Murino Frampton purchased a used 2006 Jaguar S-Type sedan for $2,000 down and $3,350 was financed by the Las Vegas dealership. It had a 75% annual percentage rate (APR).
This might be the perfect time to buy a new vehicle. Despite the temptation to put off making plans until after the holiday rush, it is time to move forward again and stop depending on the holiday deals to get you in.
Car owners have had an unstable 18 months. Mileage has fluctuated dramatically since March 2020, fuel prices have soared and there have been shortages of both new and used cars.
The credit union industry increased its share of the nation's auto loan market in the third quarter, led by new car loans, according to a report recently released by Experian.
It's easy to ridicule billionaire spending - like buying mansions or yachts - but their spending is a positive boost to our economy.