Encouraging news of improving sales and affordability over the third quarter arrived amidst a backdrop of concern over a possible labor strike as the deadline for United Auto Workers leaders and Detroit-Three car manufacturers…
The Federal Reserve is likely to skip an interest rate hike when it meets this week, experts predict. But consumers may not feel any relief. The central bank has already raised interest rates 11 times since last year — the fastest pace of tightening since the early 1980s.
Down payments are lower, but approval rate decreased slightly. It grew easier to access a car loan in August -- the third straight month of easing standards. But credit availability is slowly recovering from record-tough conditions earlier this year. It remains historically difficult to qualify for a car loan.
Ford's electric division is expected to lose $4.5 billion more this year than previously expected, but the automaker is still dead set on making EVs work for it
If you’re in the market for purchasing a new home or taking on a business loan or personal loan, you’re likely finding it difficult to score the almost-2% APR we saw in 2020. That’s because the Federal Reserve has been hiking interest rates since March 2022 in an effort to cool inflation.
Last week, ADESA chief economist Tom Kontos discussed what might happen to the used-car market if a strike involving manufacturing plant workers who build new vehicles for the Big 3 OEMs happens next month. On Tuesday, Black Book noticed wholesale price implications already are starting to surface.
Prices and interest rates are high, but that’s not stopping — or even slowing — consumer demand for used vehicles, according to the latest report from Edmunds.
Financial stumbles may have long-lasting impacts on consumers whose credit scores have been affected by these trip-ups. This is evidenced in the report “The Credit Accessibility Series: The Credit Insecure Need More Education,” a PYMNTS and Sezzle collaboration, which explored the dollars and cents cost of being a subprime borrower.
Just four years ago, the average one-to-five-year-old used car cost $23,351, per iSeeCars. Today, that average has climbed to $34,491, nearly where average new-car transaction prices were four years ago.
New vehicles might still be out of reach for many customers who land in the subprime credit tier. But the latest data from Kelley Blue Book showed that perhaps the prospects for putting a subprime consumer into a new model might be improving.
New-vehicle sales, when announced next week by automakers, are expected to show big gains over last year and a slight improvement over last month. The key reason for these gains continues to be the market’s healthy recovery from being supply-chain constrained over the previous two years.
It isn’t often that we get to report that a consumer product just got 10 grand cheaper, but today, Ford Motor Company announced it’s cutting $10,000 off the price of its F-150 Lightning electric pickup.
The Federal Trade Commission has issued a new blog post warning consumers about scammers who are impersonating FTC staff members.
Two Federal Reserve officials said Monday that more rate hikes are needed to tame inflation that has proven to be more persistent than previously thought.
A Federal Trade Commission lawsuit against the operators of a telemarketing scam that called hundreds of thousands of consumers nationwide pitching “extended automobile warranties” will result in a lifetime ban from any outbound telemarketing business and from any involvement with extended automobile warranty sales.
Like many of us, the Black Book team celebrated the Fourth of July on Tuesday, so its newest installment of Market Insights appeared on Wednesday, giving analysts the chance to compile their data wrapping up June and glimpsing into the first day of the new month.
MID-MICHIGAN (WJRT) - As Americans battle inflation and rising interest rates, auto lenders are seeing more and more people fall behind on their car loans. According to S&P Global Mobility, there are more delinquencies being seen now than during the great recession.