Fueled by a record high level of borrowing for car purchases, Americans probably bought about 1.4 million motor vehicles this month, pushing sales up more than 10 percent from July 2013. By most forecasts this will be the best July on record since 2006, more than a year before the start of the Great Recession that sent the auto industry into a crisis.
Read more from this International Business Times article by pressing here.
In the first quarter of 2014, there were over 45,000 Consumer Bankruptcy Chapter 13 discharges. That number is up 19.4% from first quarter discharges in 2013 (38,000) and up 59.6% from first quarter 2012 (28,668).
PLEASE NOTE: Our data is based on one per household, minus multiple filers and has been cleansed to postal specifications.
It looks as if Toyota Motor Corp. is heading to the Lone Star State.
The company is moving its U.S. sales headquarters from Torrance, Calif., to suburban Dallas, according to a report from Reuters. Read more by clicking here.
May you and yours have a safe and happy Easter from all of us at BEBdata
One of the biggest problems independent auto dealers have is getting financing to run their credit operations. Now, a Milwaukee-area entrepreneur with a long auto sales pedigree has come up with a way to help dealers raise more money, and lower their financing costs while allowing a new group of investors to get into the auto finance business.
Read more from this great article by George Yacik by clicking here.
Chapter 7 Filings increased slightly (1.4%) in February compared to January 2014. The number of Chapter 7 filings from February 2013 showed a significant decrease of over 11,000 (-18.2%) from February filings the year before. February 2014 numbers show the downward trend slowing as some 46,000 filings were processed last month compared to the 50,000 processed in February of 2013 representing a reduction of only 6.8%.
PLEASE NOTE: Our data is based on one per household, minus multiple filers and has been cleansed to postal specifications.
CFED (Corporation for Enterprise Development) released their 2014 Score Card Deep Five Report, a comprehensive evaluation of the relative financial security of the American public.
Results from the Score Card reflect that 56.3% of all US consumers do not qualify for credit at “prime” rates. With an average annual pay of only $40,309, consumers in the state of Mississippi account for the highest percentage of consumers with subprime credit at 69.1%.