Lease Approval Ratings Improve in July Following Slight Dip in June
Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 69.1% approval rate in July, a rise from the June rate of 65%. July experienced a strong number of applicants with qualifications for taking over another person’s lease, and a slight approval rating increase following a dip in approvals for June.
July saw a slight decrease in approval…Continue
Added by John Sternal on August 15, 2019 at 1:59pm — No Comments
acksonville-area first responders, fire fighters and law enforcement officials are more prepared for the future of public transportation after completing emergency training with autonomous vehicles.
The JTA, along with Florida-based autonomous mobility solutions company Beep, First Transit and autonomous vehicle manufacturer NAVYA, hosted a day-long training session at the North Florida TPO campus, focusing on the latest AV technology and how first responders should address emergency…Continue
Added by John Sternal on August 15, 2019 at 9:15am — No Comments
Here are the latest auto credit trends as reported by Equifax through March 2019:
Added by John Sternal on August 14, 2019 at 9:59am — No Comments
Autonomous Mobility Solutions Company Partners with Leading Fleet Orchestration Platform to Deliver Intelligent, Consistent, Autonomous Mobility Services
Beep, a Florida-based autonomous mobility solutions company, today announced a partnership with Bestmile, the leading fleet orchestration platform. Through this partnership, Beep will leverage the market…
Added by John Sternal on August 13, 2019 at 11:19am — No Comments
Regardless of whether you are on the side that believes Millennials like or dislike personal automotive commitment, no doubt their unique perspective on automobiles and vehicle shopping may forever change the way certain vehicles were once perceived. According to the customer advisor specialists at Swapalease.com, who consult with…Continue
Added by John Sternal on August 5, 2019 at 3:43pm — No Comments
Majority of Customers Report Complaints in Lengthy Vehicle Financing Processes from Lenders
Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, today announced the results of its latest survey, showing 79.3% of C-Suite finance executives polled overwhelmingly reported their organization was most in need of Artificial Intelligence (AI) Integration in their automotive lending processes.
Although it’s no…Continue
Added by John Sternal on August 5, 2019 at 1:41pm — No Comments
F&I Product Offerings Designed to Help Dealers Educate Customers
Protective Asset Protection, a provider of F&I programs, services and dealer owned warranty company programs, continues to ensure its F&I product offerings meet the needs of dealers selling plugin, electric vehicles…Continue
Added by John Sternal on July 29, 2019 at 1:45pm — No Comments
Several Brands Offer Discounts on SUV Leases, Nissan Offers Attractive Lease Deals on Several of Their Vehicles
Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of July. Several automotive brands offered discounts on SUV’s entering the month of July, with Nissan offering enticing deals to shoppers on a variety of vehicles.
The Nissan Sentra is currently priced the lowest…Continue
Added by John Sternal on July 29, 2019 at 11:34am — No Comments
More Demand From Consumers Seeking Existing Lease Contracts at Price Points Negotiated When Dealer Incentives Were More Prevalent
Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 65% approval rate entering July, a drop from the 72.4% mark registered in May.
Although lease origination activity at dealerships was down in Q1, lease takeover activity has…Continue
Added by John Sternal on July 18, 2019 at 10:09am — No Comments
Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, and ZestFinance, a leader in artificial intelligence (AI) software, today announced their strategic partnership to enhance lending procedures in the financial services industry.
Inovatec will integrate Zest Automated Machine Learning software (ZAML) into its business process management technology to help lenders immediately improve their underwriting results with…Continue
Added by John Sternal on July 16, 2019 at 11:54am — No Comments
NISSAN INCREASES PRICES ON NEW LEASE DEALS IN JUNE ACCORDING TO WANTALEASE.COM
Several Manufacturer Prices Fluctuate on Small, Mid-Size and Luxury SUVs
Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings, showing price increases on a number of today’s popular Nissan leases. While most vehicles maintained their prices from May, a number of manufacturers had price…Continue
Added by John Sternal on June 26, 2019 at 3:43pm — No Comments
Continue to grapple with consumer time at dealership, unverifiable credit application data, and fraudulent transactions
A new automotive survey from Equifax finds that dealers understand digital retail solutions, but may struggle in providing such solutions to customers. The online survey polled 135 dealers around the U.S. to get a better understanding of current trends in retail transactions, credit applications, vehicle financing,…Continue
Added by John Sternal on June 25, 2019 at 11:30am — No Comments
Trust Science and Inovatec Systems Team Up to Release World's First End-to-End Loan Management Platform Powered by Alternative Credit Scores
Lenders now have the ability to reliably find, score, lend to and manage the loans of 64 million unbanked and under-banked consumers in the United States alone…Continue
Added by John Sternal on June 19, 2019 at 11:09am — No Comments
Lease Approval Ratings in May reach Their Highest Number Yet for 2019
Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.4% approval rate in May, a slight rise from the April rate of 72%.
May experienced a higher number of applicants with qualifications that led to more approvals for taking over another person’s lease contract during the month. May saw an increase in approval ratings from the…Continue
Added by John Sternal on June 19, 2019 at 9:08am — No Comments
Data Shows Various Impacts and Complexity of Vehicle Repairs on Claims
Protective Asset Protection, a provider of F&I programs, services and dealer owned warranty company programs, announced today, a new set of data analysis showing how much average claims have increased annually for GAP payouts and Vehicle Service Contract (VSC) claims dating back to 2014.
The average GAP claim payout has risen 19.5% between…Continue
Added by John Sternal on June 6, 2019 at 9:09am — No Comments
Current estimates put roughly one million electric vehicles on the road in the U.S. today. According to media reports, this milestone was achieved just a few months ago. Proponents of the technology agree that this is a small number, compared to the more than…Continue
Added by John Sternal on May 31, 2019 at 1:19pm — No Comments
Data Providers Can Help Expand Opportunities for Mechanical Wholesale
& Collision Wholesale Programs
MOTOR Information Systems, one of the…Continue
Added by John Sternal on May 29, 2019 at 11:29am — No Comments
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
Added by John Sternal on May 21, 2019 at 9:28am — No Comments
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
Added by John Sternal on May 20, 2019 at 10:35am — No Comments
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:
Added by John Sternal on May 16, 2019 at 1:00pm — No Comments