WASHINGTON, D.C. - Americans are taking on longer and riskier car loans than ever before as vehicle prices remain near record highs, stretching household budgets and reshaping the auto finance market. The average cost of a new car continues to hover just below $50,000, according to recent industry data. Combined with elevated interest rates, this has driven monthly payments … [Read more...] about Surging Car Prices Push Buyers Toward Record-Long Auto Loans
Used Car Prices Hold Steady Despite Market Disruptions, Analysts Say
WEST PALM BEACH, FL - According to Kelley Blue Book, the average price dealers paid for used vehicles at wholesale auctions in June increased just 1.6% compared to May when adjusted for seasonal trends. That modest gain is viewed as a sign of price stabilization in an otherwise turbulent market. We’re seeing a cooling in volatility due to increased inventory from trade-ins … [Read more...] about Used Car Prices Hold Steady Despite Market Disruptions, Analysts Say
Used Cars, New Standards: What Today’s Buyers Should Know
RIVERSIDE COUNTY, CA - Buying a used car used to come with a fair share of uncertainty - questions about reliability, hidden damage, or previous ownership history often made the process feel more like a gamble than a smart purchase. However, the landscape of used car buying has changed significantly. Today's buyers are more informed, more empowered, and have access to better … [Read more...] about Used Cars, New Standards: What Today’s Buyers Should Know
FTC Clarifies Data Protection Rules for Auto Dealers Under GLBA
WASHINGTON, D.C. — The Federal Trade Commission has released its first official guidance directed specifically at auto dealerships regarding the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule, which governs how financial institutions must protect consumer data. This marks the first time the FTC has issued Frequently Asked Questions (FAQs) on the topic since the revised rule … [Read more...] about FTC Clarifies Data Protection Rules for Auto Dealers Under GLBA
Used Car Inquiries Drop Sharply: What’s Behind the Slowdown?
PALM BEACH, FL - Across the country, dealers and online platforms are seeing a noticeable drop in used car inquiries - and it's not just anecdotal. From major platforms to independent dealer websites, fewer shoppers are actively searching for used vehicles. So, what’s behind the dip in demand? Economic Uncertainty Dampens Consumer Confidence Recent U.S. retail data shows … [Read more...] about Used Car Inquiries Drop Sharply: What’s Behind the Slowdown?