Past 10 days have been wild:
— Capital One shut off all dealer floorplans (aka inventory lines of credit)
— USA Auto Sales shut down 39 dealerships after losing its Ally floor plan
— Wells fargo laid-off all its junior Auto loan underwriters and capped future loans
Insanity.
— Car Dealership Guy (@GuyDealership) April 18, 2023
Both.
But you typically have a window of time to refinance. i.e. 90 days beforehand
— Car Dealership Guy (@GuyDealership) April 18, 2023
Wholesale is starting to.
Retail, not really.
Inventory is still at historic lows.
— Car Dealership Guy (@GuyDealership) April 18, 2023