Manufacturers Offer More Finance Deals Featured

By Staff Writer July 05, 2019

Manufacturers are offering more finance deals as they attempt to clear aging inventory off their dealers’ lots.

Edmunds estimates 5.5 percent of new vehicles sold in June were 2018 models, the highest level of outgoing model-year sales of any June in Edmunds' records. Edmunds data also shows that more shoppers received interest rates between 2 percent to 5 percent in June compared to any other month so far in 2019.

The average interest rate for a new-vehicle loan dropped for the second month in a row in June, hitting its lowest level so far this year. According to Edmunds, the annual percentage rate on new financed vehicles averaged 6 percent in June, compared to 6.1 percent in May.

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Last modified on Tuesday, 09 July 2019 15:10

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