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John Sternal's Blog – June 2014 Archive (7)

Car Lease Credit Approvals Reach New Low for the Year, the nation’s largest car lease marketplace, reports lease credit approvals during the month of May were 60.6%, the lowest monthly level of the year and down from January when the approvals rate was at 70.6%.

Despite the overall approvals rating sliding down from a 2014 high in January, attributes the recent slide to a significant higher number of applications over the last two months. In fact, 44.7% more applications have been processed in May and April…


Added by John Sternal on June 25, 2014 at 6:16am — No Comments

Insurance Premiums Cause People To Change Their Car? works with thousands of people each year looking to escape their lease contract before end of term for a variety of reasons. For the most part, people look to escape simply because they can no longer afford to make the payments, they’re bored and ready for something different, or they’ve had a change in their lifestyle (new baby on the way).

But a new crop of reasons has started to gain traction from drivers across the country. While many of these reasons are…


Added by John Sternal on June 19, 2014 at 10:05am — 1 Comment

GM RECALLS HAVE LITTLE EFFECT ON PEER-TO-PEER VEHICLE TRANSACTIONS, the nation’s largest car lease marketplace, released its latest report on vehicle incentives from May, and one particular area stood out: Despite all the attention on recalls, few GM brands are currently listed with a cash incentive.

Cash incentives are a normal practice in the world of automotive sales, but what makes this report different is that the marketplace involves person-to-person transactions. According to incentives data from May listings,…


Added by John Sternal on June 10, 2014 at 6:01am — No Comments

Quality Products Drive Used Car Pricing

Here is this week's Used Car Market Report with the latest data from Black Book. What a week it has been for the Editorial team at Black Book! From viewing auctions online and the editors actual attendance, we were hands on with at least twelve auctions, to go along with the sixty-three physical auctions the Black Book survey personnel attended and reported the actual market activity from.Throw in the numerous electronic data feeds and we have a great feel for the market activity.



Added by John Sternal on June 9, 2014 at 8:30am — No Comments

Used Car Depreciation in May Shows Early Signs of Summer Slowdown

According to Black Book® data, the average price of a used vehicle for model years 2008-2012 overall dipped slightly during May, the beginning of a summer season that typically sees higher depreciation compared with spring levels. Average segment prices saw -0.4% depreciation in May compared with the previous month (+0.9% in April). Domestic cars changed -0.5%; import cars changed -0.9%; domestic trucks gained +0.5%; and import trucks changed -0.4%. Average pre-recession depreciation is…


Added by John Sternal on June 5, 2014 at 9:10am — No Comments

Best Graduation Gift: Getting Rid of A Car

Help grads get rid of their car.

According to the National Retail Federation, Americans are on track to spend over $4.7 billion in cash, gift cards, clothing and electronics for graduates this year. They're also facing a still-tough job market. Today’s crop of new B.A.s are staring at roughly 8.5 percent unemployment and 16.8 percent underemployment, according to the…


Added by John Sternal on June 4, 2014 at 11:59am — No Comments

Full-Size Pickups Prosper, Full-Size SUVs Most Consistent

Here is this week's Used Car Market Report with the latest data from Black Book. Last week was a semi-short week as we all had the chance to remember and honor those who have served in the military. No matter where a holiday falls there is some effect on the rhythm of the auctions and buying and selling needs of the wholesale markets.

Overall the changes to the values were more stable with no extremes in the level of change. Even though there were comments within the Black Book survey…


Added by John Sternal on June 2, 2014 at 11:57am — No Comments

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