Auto Facts
 
 

 

Average amount financed on a new vehicle
Posted on: 03/14/2019

Edmunds reported on March 1, 2019, that interest rates hit the highest level in a decade.  This is not a result of lenders increasing rates but a result of manufacturers eliminating zero percent financing.  In February, for instance, zero percent finance offers constituted 3.22 percent of all financed deals compared to 8.28 percent last year and 6.95 percent five years ago. 

In February 2019 only 18 percent of shoppers received an APR under 3 percent compared to 29.91 percent last year.  Five years ago, 45.59 percent received an APR under 3 percent.

Also noted is the change in the buying habits of new-vehicle consumers.  Just a few years ago buyers were shopping for small cars and mid-size cars but today that is not the auto of choice, it has been replaced by large trucks and not the stripped-down models.  The “soccer mom van” has now been replaced by the large SUV and few buyers are shopping for the “plain Jane” version.

It only makes sense that if gas prices remain low, the day of the “puddle jumper” cars will be history.       



Used-Car Finance Data
Posted on: 03/06/2019
Used-Car Finance Data
  February 2019 February 2018 February 2014
Term 67.4 67.1 64.6
Monthly Payment $409 $390 $364
Amount Financed $21,861 $21,224 $19,253
APR 8.95 8.35 8.47
Down Payment $2,638 $2,533 $2,370

About Edmunds
Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on TwitterFacebook and Instagram.



New Car Finance Data
Posted on: 03/06/2019

The information on New-Car Finance Data and Used-Car Finance Data are reprinted from Edmunds. 

New-Car Finance Data
  February 2019 February 2018 February 2014
Term 69.4 69.4 66.6
Monthly Payment $556 $527 $474
Amount Financed $32,071 $31,313 $24,477
APR 6.26 5.19 4.56
Down Payment $4,187 $3,929 $3,552



Top 10 best-selling light vehicles in February
Posted on: 03/02/2019

The top 10 best-selling light vehicles in February and year-to-date as reported by Automotive News.  GM sales are estimated.

  Feb.     2 mos.
1 Ford F series 66,122   Ford F series 128,114
2 Ram pickup 39,950   Ram pickup 74,839
3 Chevrolet Silverado* 35,078   Chevrolet Silverado* 66,075
4 Nissan Rogue 31,899   Nissan Rogue 58,012
5 Chevrolet Equinox* 29,586   Chevrolet Equinox* 55,730
6 Toyota Corolla 29,016   Honda CR-V 55,456
7 Honda CR-V 26,304   Toyota Corolla 54,129
8 Toyota RAV4 26,149   Toyota RAV4 50,654
9 Toyota Camry 24,267   Toyota Camry 48,069
10 Honda Civic 22,979   Honda Civic 44,532


Top 10 best-selling cars in February
Posted on: 03/02/2019

The top 10 best-selling cars in February and year-to-date as reported by Automotive News.  GM sales are estimated. 

  Feb.     2 mos.
1 Toyota Corolla 29,016   Toyota Corolla 54,129
2 Toyota Camry 24,267   Toyota Camry 48,069
3 Honda Civic 22,979   Honda Civic 44,532
4 Honda Accord 20,254   Honda Accord 39,040
5 Nissan Sentra 17,072   Nissan Sentra 31,160
6 Nissan Altima 16,216   Nissan Altima 28,405
7 Tesla Model 3* 14,000   Tesla Model 3* 28,000
8 Ford Fusion 13,660   Chevrolet Malibu* 23,702
9 Chevrolet Malibu* 12,583   Ford Fusion 23,675
10 Hyundai Elantra 10,304   Hyundai Elantra 20,246


Top 10 light-truck sales
Posted on: 03/02/2019

The top 10 light-truck sales in February and year-to-date as reported by Automotive News.  GM sales are estimated. 

    Feb.     2 mos.
1 Ford F series 66,122   Ford F series 128,114
2 Ram pickup 39,950   Ram pickup 74,839
3 Chevrolet Silverado* 35,078   Chevrolet Silverado* 66,075
4 Nissan Rogue 31,899   Nissan Rogue 58,012
5 Chevrolet Equinox* 29,586   Chevrolet Equinox* 55,730
6 Honda CR-V 26,304   Honda CR-V 55,456
7 Toyota RAV4 26,149   Toyota RAV4 50,654
8 Ford Explorer 21,788   Ford Explorer 41,098
9 Ford Escape 21,055   Ford Escape 38,704
10 Toyota Tacoma 18,533   Toyota Tacoma 35,385


Used Vehicle Rates
Posted on: 02/22/2019

 Ask yourself this: Did you ever think the average monthly payment on a used vehicle loan would be $407?   

Average interest rate on used-vehicle loans climbs in January
 
Interest rates on used vehicles financed in January rose more than 1 percentage point to an average of nearly 9 percent. The average loan term stayed relatively flat, while the average monthly payment, down payment and amount financed rose.
  Jan. 2019 Jan. 2018
Term (in months) 67.2 66.9
Monthly payment $407 $384
Amount financed $21,763 $21,084
APR 8.88 7.83
Down payment $2,614 $2,473
Source: Edmunds



 
 
 
 
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