In August, the days’ supply of used vehicles up more than 15% vs. year ago. That will translate into softer used prices as dealers attempt to shed inventory that’s beginning to back up on their lots.
Trucks are in Shorter Supply than Cars for Third Month Running:
Making up less than 90% of average days’ supply compared to 120+ percent for cars.
Consumers More Clear from Online Resources on What Used Should Sell for:
Driving harder bargain and finding dealers, who are seeing inventories beginning to grow, willing to make a deal.
Latest Loan to Value Ratio Data Show Rise, Especially for Sub-Prime Borrowers:
Banks are chasing after auto loans because of low repossession rates and minimum of late-payers.