“It's nothing like it was a number of years ago but substantially better than it was 12 months, even six months ago, particularly in the subprime with the captives,” Kearney told analysts at a conference held in conjunction with the Detroit auto show.
Leases are more available, mostly from the captives but also from some banks, he said. Lenders also are willing to advance more per deal than they had during the worst of the industry downturn. That reluctance was a damper on sales of both vehicles and products offered in the finance and insurance office, dealers reported.
Now, “we're seeing larger advance rates,” Kearney said. “We're also seeing the advancing of more products -- insurances, as well as extended maintenance and prepaid maintenance contracts for consumers.”