Vehicle Repossessions Drop, Says Experian Automotive Report

Automotive finance has been given a bit of a reprieve, according to a new Experian Automotive study. Quarterly repossessions dropped by 14.8% in Q2 2013 – the lowest rate since it began tracking data seven years ago. According to its latest State of the Automotive Finance Market report, 0.36% of all vehicle loans ended in a repossession, down from 0.43% in Q2 2012. It also represented a 10.4% decrease from the low point of 0.41% in Q2 2006.

Consumers in the second quarter have done an exceptional job of meeting their financial obligations to keep the market strong, said Melinda Zabritski, Experian's senior director of Automotive Credit.

NADA Used Vehicle Price Index – July 2013

Depreciation as a whole has remained very mild over course of past 2 months
As a result, NADA’s seasonally adjusted used vehicle price index remained virtually unchanged at 123.5, up just 10th of point from June’s figure of 123.4
Prices for used units up to eight model years in age fell by just 1.0% in July, a figure substantially better than July 2012’s 2.6% loss

Wholesale Vehicle Depreciation Tightened Up in July

Jonathan Banks Executive Automotive Analyst NADA Used Car Guide Depreciation remained very mild over past 2 months – NADA’s price index up just a tenth of a point from June’s figure of 123.4. After falling by a mild 1.1% in June, depreciation tightened up even more last month. Prices for used units up to 8 […]

Dealer Demand Keeping Wholesale Prices Steady

Tom Webb Chief Economist Manheim Consulting Wholesale prices rose in July, the 2nd straight monthly increase, even in the face of higher supplies. That comes from strong dealer demand and low new vehicle inventory levels for certain models. Dealer demand is expected to continue, supported by ready availability of retail credit. Wholesale prices are still […]