Posted To: Pipeline Press
The average used car depreciated about 23% last year, faster than the historical average annual rate of 18%, per the National Automobile Dealers Association report. Years of rising U.S. auto sales are starting to work against carmakers, and a glut of used vehicles has started to depress prices. That trend will intensify as this year Americans will return 3.4 million leased cars and trucks, another jump after a 33 percent surge in 2016, according to J.D. Power. (When auto lenders lease out vehicles, they charge the customer a monthly payment and make an assumption of the car or truck’s value when it will be returned for resale. If vehicles are depreciating more than expected, losses can pile up.) Yes, things change outside of residential lending. Government news I received a few notes...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2jtBI2o
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