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THE GOOD FIGHT: Paul John, executive director of the Georgia Independent Automobile Dealers Association, discusses how the association fought against state legislation that would have raised the taxes on used-car purchases.

More Prime Buyers Finance Used Cars

More Prime Buyers Finance Used Cars Featured

The average finance amount for new and used vehicle reached a record high in the fourth quarter of 2016.
The average amount financed for new vehicles reached $30,621. The average amount financed for a used vehicle reached $19,329, up from $18,850 in the fourth quarter of 2015.
The report also showed the number of consumers opting for auto finance contracts with terms of 73 to 84 months on their new vehicles increased to 32.1 percent from 29 percent in the fourth quarter of 2015. In the used car market, there was an increase in 73- to 84-month loans to 18.2 percent from 16.4 percent.
The report also showed that used vehicle financing grew to 41.85 percent in the super prime consumer segment, an increase of 5.4 percent year over year. Moreover, used franchise and independent vehicle dealers saw their biggest year over year increases in super prime consumer lending, with 5.91 percent and 13.8 percent, respectively.

Last modified on Friday, 03 March 2017 01:29
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Toyota and Lexus once again finished atop the Consumer Reports’ Annual Auto Reliability Survey, but the news was the No. 3 finisher – Buick.The General Motors division became the first...

Volkswagen Recalls SUVS for Fuel Leaks

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Volkswagen Group of America Inc. is recalling 73,941 2004-2007 Touareg vehicles. These gasoline-powered vehicles have a fuel filter flange that may crack, allowing fuel to leak.Volkswagen will notify...

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