Director, Automotivate India. Coaching & Developing Talents for the Automotive Industry. Dealership turnaround,
Currently, loans for petrol and diesel passenger vehicles have interest rates ranging between 9.3% and 10.3%, while ICE two-wheeler rates range from 16-20%. For EVs, interest rates for cars and SUVs are between 8.5-9.5%, whereas e-two-wheelers range from 18-22%. https://lnkd.in/gGCBDvaR #EvFinancing #RoadbolckForEVs #InterestRatesForEVs
"A great challenge of life: Knowing enough to think you're doing it right, but not enough to know you're doing it wrong."
Okay, this is not about EVs. It is all the cars. ICE, EVs. 50% of the applications have been rejected by the banks. "New battery-powered passenger EV registrations are seen at 80,000 units this year, said Suraj Sangsnit, president of the Electric Vehicle Association of Thailand. That’s below the 150,000 units forecast by the group earlier this year. The tally is still about 5% more than over 76,000 units sold in 2023." "The cut in sales forecast is bad news for Chinese makers like BYD and Great Wall Motor, which have just started producing locally-made cars this year after investing in factories to capitalise on government incentives to drive adoption of new-energy vehicles." There is that. But it is what it is. "Thailand’s auto industry group has cut its full-year production forecast of all vehicles to 1.7 million units this year from 1.9 million units predicted earlier, citing a “worrisome” 50% refusal rate for auto loans."
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
Contractual residual values (RVs) in UK auto loan agreements became over-inflated when used car prices were high, increasing their exposure market value risk at maturity now that prices are correcting rapidly. Learn More: https://ow.ly/SK5E50ROOz3 #FitchRatings #StructuredFinance #ABS
Board Member| Healthcare| Education| Auto Finance | Economic Development | Leadership | Former Truist Executive Vice President
The average returns on auto portfolios are still underpriced given the environment in 2022-2023. There is still pricing volatility when you try to price for an adequate return.
Auto loan rates continued to climb in February, even as vehicle supply seems to be easing. #autofinance #autoindustry #interestrates https://hubs.la/Q02q-FQp0
Captive lenders are dominating the auto financing market, with a captive share of total auto financing rising to 31.6% in Q4 of 2023. According to recent data, captives maintain the top spot in new vehicle financing, with over 61% of the market. Meanwhile, credit unions hold the largest share of used car lending, but their market share dropped from 31% a year ago to 29% in Q4 2023. Indirect lenders are also struggling to keep up with captives, making it clear that captives are the ones to watch in the auto financing industry. #AutoFinancing #CaptiveLenders #CreditUnions #MarketShare
Used car prices continue to drop, with most categories down 10% year-over-year. That's why more than 1,000 lenders use #CARFAX History-Based Value, the VIN-specific tool that helps ensure auto loans are collateralized as expected! https://lnkd.in/gHMuhY6g #usedcars #autofinance #vehiclevalues
Many Banks, Lending Institutions, and Finance companies are now requiring an Independent 3rd Party Appraisal before they will lend on used cars. Why you may ask? Because in the event the loan is defaulted on, they want to make sure the collateral provided is sufficient to cover the debt. In this case, we have a 2015 Chevrolet Suburban that was being offered by a local dealer. During the inspection process, I was able to identify and verify the "Rebuilt" status of this truck along with a CARFAX and or AUTOCHECK report. A rebuilt title will ALWAYS affect the value of the vehicle and can never be overlooked. Buying/Selling/Trading. Getting an Appraisal can not only help you secure financing, but also raise awareness to any potential undisclosed prior incidents with the subject vehicle. CFL Auto Appraise provides a FREE AUTOCHECK report with every Fair Market Value Appraisal Report. Contact us today for more information. 407-791-4034 #whatsmycarworth #valuemycar #carvalue
Licensed & Certified Independent Auto Appraiser/Adjuster | Founder CFL Auto Appraise | CAT Hail/Flood Certified | Classic Car Collector | Musician | Guitar Collector | Jim of All Trades
Many Banks, Lending Institutions, and Finance companies are now requiring an Independent 3rd Party Appraisal before they will lend on used cars. Why you may ask? Because in the event the loan is defaulted on, they want to make sure the collateral provided is sufficient to cover the debt. In this case, we have a 2015 Chevrolet Suburban that was being offered by a local dealer. During the inspection process, I was able to identify and verify the "Rebuilt" status of this truck along with a CARFAX and or AUTOCHECK report. A rebuilt title will ALWAYS affect the value of the vehicle and can never be overlooked. Buying/Selling/Trading. Getting an Appraisal can not only help you secure financing, but also raise awareness to any potential undisclosed prior incidents with the subject vehicle. CFL Auto Appraise provides a FREE AUTOCHECK report with every Fair Market Value Appraisal Report. Contact us today for more information. 407-791-4034 #whatsmycarworth #valuemycar #carvalue