Auto sales have faced slightly downward pressures so far in 2019, especially in April where U.S. auto sales declined 2.3 percent1 despite having an extra selling day in the month and having the benefit of the spring selling season as an added incentive for car shoppers.
With the monthly data, the annualized pace of sales dropped to 16.41 million1, below the estimates most industry observers pegged for the year closer to the 16.8 million mark. A year ago…Continue
Several Entry-Level Cars Experience Price Increases, Allowing Dealers Room For Greater Holiday Weekend Lease Discounts
Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings, with prices on most of today’s popular leases holding steady from last month. Thirty-six different vehicles maintained their prices from April, a slight decrease from last month’s lease deals, where 75% of…Continue
A few notes on subprime loan origination and balance activity:
Subprime auto loan originations have a corresponding total balance of $7.07 billion, a 5.3% increase year-over-year.
The average subprime loan amount was $18,934. This is a 5.0% increase compared to January 2018.
Auto Loan Originations Observations through January 2019 reported as of March 2019:
Lease Approval Ratings in April Reach Their Highest Since August of 2018, making it the strongest month of the year
Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72% approval rate in April, a rise from the March rate of 70.7%.
April experienced a higher number of applicants with qualifications that led to more approvals for taking over another person’s lease contract during the month. April saw a slight…Continue