Remove APR Remove Lessee Remove Sales
article thumbnail

Changing Auto Buyer Behavior: Tips to Help Dealers Adapt

Automotive Mastermind

This metric quickly climbed, almost a full point from December to May 2022,while sales prices reached historic new highs. Still, S&P Global Mobility notes the average APR has risen for the upper-level credit tiers, but not for the lowest tier, including credit scores between 300–600. APR in August versus 5.4% May 2022 4.8%

Buyer 52
article thumbnail

OEM Trends in Customer Financing

Automotive Mastermind

Coupled with rising federal interest rates, few OEM incentives, and high sales prices, it’s now more important than ever that dealers proactively communicate with their buyers about their financing options. Captive financing options also empower dealers to strengthen their relationships with customers by staying connected long after the sale.

Finance 52