Fitch: Subprime Auto ABS Losses Creep Up, Prime Stable
Annualized net losses for prime auto loan ABS declined on a monthly basis in October, while subprime losses rose 32 basis points to 9.61%, according to the ratings agency. Subprime ANL, however, remain within levels recorded earlier this year.
F&I Still a Drag on Improving Transaction Times, Survey Shows
Although transaction times at dealerships are improving, there are still roadblocks in the process that are holding dealerships back from reliably achieving transactions times below the one- and two-hour mark, according to a survey fielded by eLend Solutions.
MBPI Partners With F&I Express
The partnership, the company stated, will help the F&I office increase sales penetration and improve dealer and customer satisfaction by decreasing customer delivery time.
NADAUCG: Wholesale Depreciation Remains Steady in October
October’s 3.6% decline in wholesale prices for used vehicles eight years in age was in line with the NADA Used Car Guide’s forecasted range of 3.2% to 3.7%. However, the decline was slightly more than this October than the previous three-year average decline of 3.3% for the period.
Kontos: Wholesale Prices Up Year Over Year, Down From September
As has been the case for much of the year, average wholesale used-car prices were down on a year-over-year basis. In October, the average wholesale used-vehicle price fell by 1.2% compared to the year before. Trucks, on the other hand, continued to realize year-over-year increases in wholesale prices. Compared to last year, truck prices are up 5.1%.