Chip Shortage Sends Used Car Prices Higher

With Spring in the air and the lure of the open road, you may be thinking of buying a new car. If you are, be sure to buckle up — you are in for a rough financial ride.

A worldwide shortage of semiconductor chips is playing havoc with the manufacture of new vehicles across all brands. More and more automotive plants are closing temporarily due to the shortage. LEARN MORE

Stimulus Checks Should Help, But Subprime Auto Loans Are At Record Lows

The recovery in U.S. auto sales is leaving behind borrowers with subprime credit, according to the latest statistics from Experian Automotive.

It’s no surprise borrowers with subprime credit are falling out of the new vehicle segment, where subprime loans typically don’t account for a large share, even in good times. LEARN MORE

CFPB rescinds abusiveness policy statement

WASHINGTON, D.C. - Experts projected that the Consumer Financial Protection Bureau (CFPB) would become more active with President Biden now in the White House.

Randy Henrick put it this way in a previous commentary: “It is reasonable to expect changes in the automobile world to be evolutionary, not revolutionary.” LEARN MORE