What Are You Seeing at Your Dealership?

(NEXSTAR) – Thinking about buying a car? Brace yourself for the price tag.

The Manheim U.S. Used Vehicle Value Index, which tracks millions of used car transactions annually, shot up to a new record high of 191.4 on Tuesday – a 52.2% increase from April of 2020.

According to the index, the “spring leap” in used car prices may not slow down any time soon. Accelerating prices and sales efficiency suggest that this trend will continue for at least the near future, a Manheim report states. LEARN MORE

How Do You Keep Your Defaults Down?

DURHAM, N.C. - Defaults are a bad outcome for both lenders and borrowers, and research shows that the mismatched timing between a person’s income and their bills is one of the most common reasons for these financial shortfalls.

A new behavioral science experiment conducted by Duke University’s Common Cents Lab with customers of Beneficial State Bank (BSB) shows a simple, creative way that banks can reverse this trend and reduce defaults by eliminating mismatches. LEARN MORE

Auto Credit Readily Available?

Credit unions loosened their lending standards for auto loans from February to March at a rate higher than banks and other lenders, according to a Cox Automotive report. The Irvine, Calif., data analytics company found credit loosened 6.4% from February to March at credit unions — the most of any lender type. Availability fell 0.4% at auto-focused finance companies. LEARN MORE