Gasoline prices drop below $5 a gallon as a record number of drivers are expected to hit the road over July Fourth weekend, according to AAA  By Omar Abdel-Baqui and Hardika Singh Mr. Melek said he attributes the consumer resilience in part to many Americans saving cash during the Covid-19 pandemic and to the low unemployment rate.  […]

Another place to watch is CarMax’s lending business, which could start facing pressure as higher interest rates mean funding costs become more expensive. Last quarter’s healthy interest margins largely reflected those from previous years because CarMax has an “earn over time” rather than immediate “gain on sale” accounting model, CarMax noted during Friday’s call. Seth Basham, […]

The CLA [Consumer Leasing Act] disclosures related to a lessee’s purchase option can affect your ability to charge a documentary fee to a lessee purchasing a vehicle pursuant to the disclosed purchase option. Most motor vehicle leases offer the lessee the option to purchase the leased vehicle for a stated, fixed price if the lessee […]