Abhinav Ramnarayan’s Post

Tesla Resets the Game ⚡ Tesla introduces zero-interest loans for up to 5 years, aiming to supercharge Model 3/Y sales in China. This is not just about boosting sales; it's about making sustainable mobility accessible, ensuring Tesla's leadership in the EV race continues. Check out all the details on our full report here ➡ https://lnkd.in/gkR-U6Ex What are your thoughts on Tesla's zero-interest loan strategy in China? Do you think it will significantly impact Tesla's sales and market share in the competitive EV landscape? Share your insights below! #Tesla #ElectricVehicles #Innovation #MarketStrategy #SustainableMobility

In the retail automotive industry, the tale of Chris Martin from Atlanta, who traded two cars for a $49K Ford Explorer and ended up with a $66K loan, serves as a cautionary example of the growing trend of negative equity. As professionals in the field, it's crucial to understand this phenomenon, driven by long-term loans and soaring interest rates. With rates at their highest since 2006 and cars depreciating quickly, customers often find themselves in a financial bind, owing more than the car's worth. This presents an opportunity for industry professionals to guide customers towards more financially sustainable choices. The key is educating customers about the implications of high-interest, long-term loans and the rapid depreciation of new vehicles. Offering advice on choosing appropriate financing options, considering pre-owned vehicles, and evaluating the real cost of ownership can help prevent buyers from falling into the negative equity trap. How can automotive professionals pivot their approach to not only sell cars but also build long-term customer trust by advocating for financially sound buying decisions? #AutomotiveInsight #CustomerTrust #FinancialGuidance

An analysis reveals that about a third of Americans with auto loans owe more on their vehicles than the cars are worth, a trend driven by high vehicle prices, extended loan terms, and record interest rates. Read More: https://lnkd.in/gKnMibSK #ConsumerDebt #AutoLoans #InterestRates #FinancialStrain #VehicleFinancing #EconomicChallenges #RisingPrices #CostOfLiving #LoanTerms #AffordabilityCrisis

An analysis reveals that about a third of Americans with auto loans owe more on their vehicles than the cars are worth, a trend driven by high vehicle prices, extended loan terms, and record interest rates. Read More: https://lnkd.in/gACr5ppx #ConsumerDebt #AutoLoans #InterestRates #FinancialStrain #VehicleFinancing #EconomicChallenges #RisingPrices #CostOfLiving #LoanTerms #AffordabilityCrisis

When it comes to car buying, the higher your credit score, the lower your interest rate! Follow these tips to raise your score: Pay bills on time, reduce debt, and check your credit report for errors. In the market for a vehicle? 🚗 We have a great auto loan deal for you: hacu.me/UsedNewAuto #AutoLoans #CreditScoreTips #DriveHappy #UsedSameAsNewAuto

It's time for credit unions to reclaim their share of the auto loan market from banks and captives! Have you thought about your strategies yet? Consider focusing on specialty or niche markets within your communities. How ready are you for the rise of Electric Vehicles (EVs)? #CreditUnions #AutoLoans #EVs

Affordable is winning with compact sedans, SUVs in favor. Industry has maintained demand despite higher auto loan rates https://lnkd.in/gTt8mtTE

Bankers help me out here… I applied for vehicle funding for a 2015 car via Toyota. Funding approved within minutes of the application by all the banks. Best rate I can get is prime. I query this because I can easily afford the vehicle. The feedback: it’s a 2015 vehicle - they won’t go better than prime. They’ll def consider prime minus if I buy a 2020 model or younger. I ask why they’re pricing the debt on the car and not on my risk profile - that’s how it works sir. I ask how much funding I qualify for based on my application - more than double what I applied for. Seems the business model is to reward the wrong kind of behaviour…and then they’ll be warning people about borrowing within their means and punishing them for taking that advice. Bizarre…or is there logic that I’m not understanding here 🤔

Despite the headwinds from rising vehicle prices and interest rates, auto loan volume and originations are at an all-time high.  Check out the comprehensive auto loan industry study for more details.  https://lnkd.in/erRpW5yS #CRIFSelect #indirect #auto #lending 

No time is better than the present to help your members get an auto loan with a great experience. I would love to share how CRIF Select Corp can support you in the process. #Indirect #Lending #Partnership #Autoloans