Carscoops

JANUARY 11, 2025

Average loan terms stretched to 68.8 Used car loans average $28,675 with more manageable $533 payments but sky-high 11% APRs. Read: 92% Of EV Owners Will Never Go Back To ICE-Only, New Study Finds Data published by Edmunds reveals that the average loan term in Q4 2024 reached 68.8 New car loans now average $42,113, with 18.9%

Down Payment 105

Down Payment Buyer APR Finance 105

Canadian Auto Dealer

OCTOBER 1, 2024

They impact their ability to borrow, manage cash flows and profit margins. First, if dealers are unable to transfer the higher financing costs to customers, they will have to absorb them internally. This can limit dealers’ ability to grow or manage financial challenges and inevitably cause economic uncertainty.

Management 52

Management Finance Financing Costs Dealerships 52

Autocar

MARCH 3, 2024

Stable used car values have become critical to new car sales in that they determine finance costs, so the continued weakness in EV prices is also hurting car companies as they look to increase the percentage of zero-emission cars they sell. Those car companies are now torn.

Financing Costs 126

Financing Costs Finance Manufacturing Customer 126

Canadian Auto Dealer

MAY 10, 2024

In terms of the market, he said vehicles are selling but economic weakness is undermining the affordability of personal mobility and the ability of governments to support the transition to EVs. In terms of the impact of EVs on dealership profits, he said the main thing will be the overhead absorption and profitability.

Retail 98

Retail Banking Finance Manufacturing 98

Canadian Auto Dealer

JULY 29, 2024

Many Canadians, with 51 per cent just $200 away from monthly financial shortfall, find it increasingly difficult to manage car payments amidst a high cost of living. Elevated financing costs directly affect car sales, necessitating a crucial role for F&I managers.

Finance 52

Finance Financing Costs Deal Management 52

Shawn Ryder

JANUARY 27, 2025

Explore Financing Through a Credit Union or Bank Sometimes, financing through traditional banks or credit unions can offer better rates compared to dealership financing. Increase Your Down Payment: A larger down payment can lower your monthly financing costs.

Down Payment 52

Down Payment Banking Finance Financing Costs 52

MforceLA

JULY 23, 2023

This figure affects the interest rate you will receive on your auto loan and influences your financing cost. If a dealership provides you with far better financing than your credit score warrants, you can recognize this as a warning sign. Know Your Credit Score Be conscious of your credit score before entering the dealership.

Deal 52

Deal Dealerships Finance Financing Costs 52