NAFCU economist says average car is 11 years old. He predicts slow but steadily improving sales in 2012.
The $44 billion Navy Federal Credit Union has been ranked by Experian as the 20th largest used vehicle lender in the country by market share.
A robust recovery of vehicle sales may not been seen anytime soon as long as unemployment remains high.
Experian’s just-released first quarter report ranked Navy Federal Credit Union the 20th largest used vehicle lender in the country by market share.
CU Solution Group’s auto lending alliance with Invest in America and General Motors has yielded 130,098 loans from nearly 300,000 members.
The latest forecasts for new auto loan originations at credit unions appear to be positive but with some caveats.
If credit unions stick to what they know when it comes to pricing for vehicle lending, it could pay off in the long run in building return and profits.
When Navy Federal Credit Union launched its auto buying program, it was important to have a component that would arm members with information that would help them avoid getting into upside-down deals or paying for unnecessary services.
Total vehicle sales started 2011 off the same way 2010 ended: in a slow but steady upward trend, according to NAFCU.
CU Xpress Lease Inc. is on a record-setting pace in auto leasing activity with 2010 up 100% on year-over-year numbers from 2009.