Auto Facts
 
 

 

Average new vehicle price in December
Posted on: 01/12/2018

Edmunds estimated that the average transaction price of a new vehicle was $36,495 in December.   That is up 3% compared to December 2016.  And, as could be expected, the average down payment increased to $4,056, up $227 from December 2016.

 New-Car Finance Data*

                              December 2017            December 2016

 Term (months)              68.99                            68.23

 Monthly Payment        $536                              $521

 Amount Financed        $32,080                      $31,046

 APR                                  4.73                               4.43

Down Payment             $4,056                          $3,830

 

Used-Car Finance Data*

Term                             66.9                               66.7

Monthly Payment      $392                            $385

 

Amount Financed    $21,613                         $21,399

 

APR                               7.7                                 7.3

Down Payment         $2,488                          $2,407

*Source: Edmunds



A changing industry
Posted on: 01/09/2018

At one time pickup trucks were exactly that, a truck.  Now it has changed and a pickup truck can do the job of a truck but at the same time provide the comforts of any car while seating five.

Year-end statistics show the top 3 selling vehicles in the U.S. are pickup trucks and, as expected, the Ford F-series has a commanding lead over the next best-selling truck by over 300 thousand units.  This year the number could be even greater as Ford is beginning to take orders on the F-150 that will offer a diesel engine.  Ford has been the best-selling pickup for 36 years straight.

It would be expected that fourth place in total sales would again be the Toyota Camry but wait, fourth place does go to Toyota but not for the Camry.  The Toyota RAV4 is in that slot followed by the Nissan Rogue in fifth place.

What was common prior to 2017 was the Toyota Camry (a car) as the best-selling non-pickup but now for the first time ever, a SUV occupies fourth and fifth place.

Rounding out sixth through tenth place we have the Toyota Camry, Honda CR-V, Honda Civic, Honda Accord and the Toyota Corolla.

Notice that domestic brands only have pickups in the top ten. 

 



Do you know your credit score?
Posted on: 01/08/2018

If you aren’t aware of your credit score you should visit the credit union and speak with our lending department.  Although we see members in a different light than other lenders, it’s important to be aware of your score.   

Tom Krisher, AP Auto Writer, said “Buyers with credit scores of 600 or lower make up about 20% of new-car sales.  Prime credit buyers make up 61%.  The rest are in a middle category called non-prime, according to Experian.”

“Subprime buyers got substantially better rates even a year ago.  The average subprime rate of 5.91% last year has jumped to 16.84% today, Smoke says.*  For a 60-month loan of $20,000, that means a monthly payment hike of more than $100, to $495.”

So, with the Feds broadcasting three more rate hikes this year that monthly payment example above could increase significantly.

Your credit union should be your source for credit related matters.

*Jonathan Smoke is the chief economist for Cox Automotive.     



The top 10 best-selling vehicles in December and YTD 2018
Posted on: 01/04/2018

The top ten best-selling light vehicles in December and year-to-date as reported by Automotive News. 

 

 

Dec.

 

 

12 mos.

1

Ford F series

89,385

 

Ford F series

896,764

2

Chevrolet Silverado

67,676

 

Chevrolet Silverado

585,864

3

Ram pickup

44,907

 

Ram pickup

500,723

4

Toyota Camry

43,331

 

Toyota RAV4

407,594

5

Nissan Rogue

40,172

 

Nissan Rogue

403,465

6

Honda CR-V

36,983

 

Toyota Camry

387,081

7

Chevrolet Equinox

32,784

 

Honda CR-V

377,895

8

Toyota RAV4

32,542

 

Honda Civic

377,286

9

Honda Civic

31,406

 

Toyota Corolla

329,196

10

Ford Explorer

28,566

 

Honda Accord

322,655

           

 



The top 10 best-selling cars in December
Posted on: 01/04/2018

The top ten best-selling cars in December and year-to-date as reported by Automotive News. 

 

 

Dec.

 

 

12 mos.

1

Toyota Camry

43,331

 

Toyota Camry

387,081

2

Honda Civic

31,406

 

Honda Civic

377,286

3

Honda Accord

22,115

 

Toyota Corolla

329,196

4

Hyundai Elantra

21,350

 

Honda Accord

322,655

5

Toyota Corolla

19,969

 

Nissan Altima

254,996

6

Nissan Altima

18,199

 

Nissan Sentra

218,451

7

Ford Fusion

17,444

 

Ford Fusion

209,623

8

Nissan Sentra

16,834

 

Hyundai Elantra

198,210

9

Chevrolet Malibu

16,628

 

Chevrolet Malibu

185,857

10

Chevrolet Cruze

13,406

 

Chevrolet Cruze

184,751

           

 



Top 10 best-selling light trucks
Posted on: 01/04/2018

The top ten best-selling light trucks for December and year-to-date as reported by Automotive News. 

 

Dec.

 

 

12 mos.

Ford F series

89,385

 

Ford F series

896,764

Chevrolet Silverado

67,676

 

Chevrolet Silverado

585,864

Ram pickup

44,907

 

Ram pickup

500,723

Nissan Rogue

40,172

 

Toyota RAV4

407,594

Honda CR-V

36,983

 

Nissan Rogue

403,465

Chevrolet Equinox

32,784

 

Honda CR-V

377,895

Toyota RAV4

32,542

 

Ford Escape

308,296

Ford Explorer

28,566

 

Chevrolet Equinox

290,458

GMC Sierra

26,436

 

Ford Explorer

271,131

Ford Escape

26,253

 

Jeep Grand Cherokee

240,696

 

 




 
 
 
 
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