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Whillet Launches an Instant Payment Platform for Used Vehicles
Whillet, a finance startup company, announced that it is rolling out an instant payment plan platform in the U.S. in collaboration with Visa. Whillet’s Instant Payment Platform uses VisaDirect’s real-time payment capabilities to make used…
EV Sales Hit Record in Q3
Cox Automotive reported that U.S. electric vehicle sales grew to over 300,000 in September, a monthly record. Cox also forecasts that the total number of electric vehicles sold this year will pass one million before…
Subprime Auto Borrowers Fall Behind on Car Payments
According to Fitch Ratings, the percentage of subprime auto borrowers who were at least 60 days past due on their auto loans rose to 6.11% in September, the highest since 1994. Millions of subprime car…
Zero Percent Auto Financing Loans Continue to Decline in Q3 2023
The percentage of auto loans financed at zero percent fell to just 1.1% in Q3 2023, down significantly from a high of 24.2% during that pandemic. According to Edmunds, for the three years before the…
Dealership Response Times to Customer Inquiries Improve Year-Over-Year
The response times by auto dealerships to website inquiries improved ~6% year-over-year, according to the 2023 Pied Piper PSI Internet Lead Effectiveness study. Pied Piper submitted customer inquiries, along with a name, email address, and…
