Current New Vehicle Market

Saw a localish dealer offering $5,000 of any ordered 2023 F-150. Didn't see any official rebates being offered.

EDIT: correction, $700 over invoice on F-150 with up to $5,000 off MSRP.

@13COBRA Do you see floor plan lenders starting to call loans on used inventory that has been sitting for a while now? I watch/listen a couple youtube channels that are dealers or car advocates while I am at my desk while I work.

Both sides have mentioned certain segments, mainly full sized SUVs sitting for much longer times. One of the dealers mentioned he had to had pay off a car that sat to long.

sleek98 said:

@13COBRA Do you see floor plan lenders starting to call loans on used inventory that has been sitting for a while now? I watch/listen a couple youtube channels that are dealers or car advocates while I am at my desk while I work.

Both sides have mentioned certain segments, mainly full sized SUVs sitting for much longer times. One of the dealers mentioned he had to had pay off a car that sat to

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I haven't heard that.

I don't have first hand knowledge as I don't floor any of our units.

13COBRA said:

I haven't heard that.

I don't have first hand knowledge as I don't floor any of our units.

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Interesting, I assumed all dealers would floor plan them to get a higher return on cash.

sleek98 said:

Interesting, I assumed all dealers would floor plan them to get a higher return on cash.

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You definitely can. I don't like owing people money. Luckily my grandfather and dad had similar beliefs and put us in a very healthy cash position.

13COBRA said:

You definitely can. I don't like owing people money. Luckily my grandfather and dad had similar beliefs and put us in a very healthy cash position.

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Risk vs Reward I would assume?

I bet that peace of mind feels really ****ing good when the market gets slow and you don’t have to stress about owing the bankers.

Tezz500 said:

Risk vs Reward I would assume?

I bet that peace of mind feels really ****ing good when the market gets slow and you don’t have to stress about owing the bankers.

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Chevy dealer owner I know in a small town was having the road torn out in front of the dealership for a major redo that was going to be over 6 months long. He said he looked at the numbers and realized he couldn't crack the monthly nut and closed his dealership down. He said he wasn't interested in going into debt to make it.

Railroad workers tentatively settle, thank God. That would have been an impressive cluster ****.

Weather Man said:

Railroad workers tentatively settle, thank God. That would have been an impressive cluster ****.

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United you Bargain, Divided you Beg.

Good for them.

Ozop Energy Solutions announces first dealership for vehicle service contracts for EVs​

OZSC -0.91%Now!

• Ozop Energy Solutions (OTCPK:OZSC) has signed its first auto dealership to sell Vehicle Service Contracts for Electric Vehicles.
• Under the Marketing and Claims Services Agreement, Sansone Nissan can sell EV VSC’s through their Finance and Insurance department.
• Also, pursuant to the agreement with GSFSGroup, the Co. can receive an Agent fee of up to $500, from which it will need to compensate any sub-agents associated with the sale of any EV VSC.
• “We are extremely happy to welcome Sansone Jr’s Windsor Nissan to the Ozop Plus family and are grateful for their patience being the pilot dealership for our team to onboard." said Brian Conway, CEO.

Borrowers are beginning to struggle. Delinquency rates are now back to pre COVID levels. Auto loan rates are too low IMO.

Klaus said:

Borrowers are beginning to struggle. Delinquency rates are now back to pre COVID levels. Auto loan rates are too low IMO.

August marks third month of rising ABS delinquencies | Auto Finance News

August marked the third consecutive month of weakening credit performance across prime and subprime auto asset-backed securitization (ABS) transactions as delinquencies remain on pace to potentially surpass pre-pandemic levels by yearend. For prime loans, the rate of loans 60-plus day delinquent...

www.autofinancenews.net

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All the free money running out.

Klaus said:

Borrowers are beginning to struggle. Delinquency rates are now back to pre COVID levels. Auto loan rates are too low IMO.

August marks third month of rising ABS delinquencies | Auto Finance News

August marked the third consecutive month of weakening credit performance across prime and subprime auto asset-backed securitization (ABS) transactions as delinquencies remain on pace to potentially surpass pre-pandemic levels by yearend. For prime loans, the rate of loans 60-plus day delinquent...

www.autofinancenews.net

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Wait till unemployment goes through the moon.

You aren't technically unemployed as long as the government is giving you a check thru some kind of mickey mouse program. You don't need a job to pay your bills, I need a job to pay your bills.

598 said:

You aren't technically unemployed as long as the government is giving you a check thru some kind of mickey mouse program. You don't need a job to pay your bills, I need a job to pay your bills.

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Idk a damn thing about unemployment. I wouldn’t even know where to start that process.

How much is the max someone gets from the Gooberment?

Tezz500 said:

Idk a damn thing about unemployment. I wouldn’t even know where to start that process.

How much is the max someone gets from the Gooberment?

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Depends. Are we talking just unemployment? That varies by state, as it's a state benefit not a federal one.

That used car finance rate!

September new vehicle sales rise 13% Y/Y, used vehicle sales down 11% Y/Y​

Sep. 29, 2022 10:34 AM ETF, GM, TM, HMC, HYMLF, VLKAF, BMWYY, NSANY, HYMTF, TSLA, HYMPY, VWAGY, DTRUYBy: Manshi Mamtora, CFA1 Comment


deepblue4you/E+ via Getty Images

• According to TrueCar total new vehicle industry sales are expected to reach 1.14M units in September 2022, up 13% Y/Y and up 3% M/M.
• Used vehicle sales for September 2022 are expected to reach 3M, down 11% Y/Y and down 4% M/M.
• Fleet sales for September 2022 are expected to be up 57% Y/Y and up 5% M/M.
• Excluding fleet sales, company expects U.S. retail deliveries of new cars and light trucks to be 987,378 units, up 8% Y/Y and up about 3% M/M.
• Incentive spend is down 54% Y/Y and down 2% M/M.
• This month's seasonally adjusted annualized rate (or SAAR) for total light vehicle industry sales is an estimated 13.4M, up 9% Y/Y.
• Total SAAR is expected to be up 9% Y/Y at 13.4M units.
• The average interest rate on new vehicles is 5.9% compared to August 2022 at 5.8% and the average interest rate on used vehicles is 9%.
• Quarterly incentive spend down 55%.

I saw a post of a girl getting a used Audi with a 11% interest rate, her previous car interest was closer to 20% so she was happy lol

Local credit unions still giving out loans with under 3.5% interest. Its mind blowing how many people dont go thru with them and rather sign an 8%+ contract because its cheaper monthly but for 84 months

I think the smart move for the next couple years is to only buy what you can afford.

If you need a loan... you can't afford it.

Alot of people driving 50k cars should be driving 8k beaters.
Let them stay poor I guess.

q6543 said:

I think the smart move for the next couple years is to only buy what you can afford.

If you need a loan... you can't afford it.

Alot of people driving 50k cars should be driving 8k beaters.
Let them stay poor I guess.

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I don't need a loan and still take them, make more with my money in the market.