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Analysis shows new vehicle prices are on the rise in 2019

An important fact consumers need to realize is that credit unions  offer their members lower interest rates on auto loans than other types of lenders. With the costs of light vehicles rising, according to a recent analysis by Kelley Blue Book, it’s more important than ever for members to turn to credit unions as their […]

An important fact consumers need to realize is that credit unions  offer their members lower interest rates on auto loans than other types of lenders. With the costs of light vehicles rising, according to a recent analysis by Kelley Blue Book, it’s more important than ever for members to turn to credit unions as their financial institution of choice for auto loans. The study, released this month, showed the estimated average transaction price for a light vehicle in the United States was $38,259 in October 2019. New-vehicle prices increased $1,064 (up 2.9%) from October 2018, while decreasing $141 (down 0.4%) from last month.

The auto industry average climbed 3% year-over-year, partially due to the shifting sales mix from cars to trucks and SUVs. And car prices grew by 2% in October 2019, their biggest jump in nearly a year. Trucks have shown the most strength of any segment with full-size trucks up 3%, while mid-size trucks rose 6%, aided by new and redesigned models.

LEVERAGE offers auto loan opportunities through partner Credit Union Loan Source (CULS). Click here for details.

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About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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To create an environment that enables credit unions to grow and succeed.

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To be the trusted advocate and preferred source of information for credit unions.

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