"It Just Gets Worse And Worse": A Record 32% Of Used Car Trade-Ins Are Underwater
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Title : "It Just Gets Worse And Worse": A Record 32% Of Used Car Trade-Ins Are Underwater
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You are now reading the article "It Just Gets Worse And Worse": A Record 32% Of Used Car Trade-Ins Are Underwater With link address https://newstoday-ok.blogspot.com/2018/01/it-just-gets-worse-and-worse-record-32.html
Title : "It Just Gets Worse And Worse": A Record 32% Of Used Car Trade-Ins Are Underwater
link : "It Just Gets Worse And Worse": A Record 32% Of Used Car Trade-Ins Are Underwater
news-today.world | We have frequently written about the unsustainable trends in new car sales in the United States created by the combination of lower rates, easing underwriting standards and voracious demand for new securitizations by wall street and pension funds that will do just about anything for an extra 20bps of yield.
This week we find that according to the latest Edmunds' data, many of the same problems also afflict the used auto market. The most startling takeaway from the report is that the percentage of used cars being traded in with negative equity values - which means that dealers lenders are willing to accept an immediate loss for new transactions - continues to rise and currently stands at an all-time high 32.4%, up from under 20% in 2009. Moreover, the average balance of the negative equity also continues to rise and stood at a record $5,130 last year, up over a quarter from $4,075 a decade earlier.
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This week we find that according to the latest Edmunds' data, many of the same problems also afflict the used auto market. The most startling takeaway from the report is that the percentage of used cars being traded in with negative equity values - which means that dealers lenders are willing to accept an immediate loss for new transactions - continues to rise and currently stands at an all-time high 32.4%, up from under 20% in 2009. Moreover, the average balance of the negative equity also continues to rise and stood at a record $5,130 last year, up over a quarter from $4,075 a decade earlier.
More
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You are now reading the article "It Just Gets Worse And Worse": A Record 32% Of Used Car Trade-Ins Are Underwater With link address https://newstoday-ok.blogspot.com/2018/01/it-just-gets-worse-and-worse-record-32.html