Northeast Ohio Auto Dealers Association

08/09/2026

The business of good has lasting community impact.

Well done The VanDevere Bunch !

VanDevere Chevrolet
VanDevere Kia
VanDevere Buick
VanDevere Cadillac

08/05/2026

We done !

08/05/2026

Automotive News you can use!

The surge in vehicle repossessions isn’t just a finance industry problem — it’s a warning that automakers, dealers and lenders have collectively priced too many Americans out of reliable transportation.

As Staff Reporter Molly Boigon reported, auto repossession rates have reached levels not seen since the Great Recession, with delinquencies rising across all credit tiers. But unlike previous downturns driven by more widespread economic declines, today’s issues have grown from sustained high vehicle prices, elevated interest rates and stagnant wage growth among working-class buyers.

The industry celebrated record transaction prices and fat profit margins in the early half of the decade as the nation emerged from the pandemic. Now those gains are at risk of reversing as the customer base contracts. Average new-vehicle prices of nearly $50,000 and used vehicles hovering above $27,000 effectively lock millions of households out of the market. Add interest rates above 7 percent for average borrowers — and double-digit rates for subprime buyers — and monthly payments become unsustainable.

Lenders extended loan terms to 72 or even 84 months to make payments appear more affordable, but that only disguises the inevitable. Borrowers who stretched to buy vehicles they couldn’t truly afford now face a choice between keeping their car and paying for housing, food or health care. The result: steadily rising repossession rates as squeezed consumers choose shelter and food over the relative luxury of owned transportation.

This isn’t solely a case of consumers irresponsibly purchasing vehicles they can’t afford. The industry pushed prices higher. Dealers added market adjustments. Lenders relaxed underwriting standards to maintain volume. And automakers prioritized high-margin trucks and SUVs while discontinuing affordable sedans.

Consequences extend beyond individual hardship. Costly repossessions negatively impact the industry’s profitability at multiple levels. They damage consumer credit scores for years, making future vehicle purchases more expensive or impossible, further threatening the industry’s long-term customer base as younger buyers delay or abandon car ownership.

As we’ve argued multiple times, the industry needs a reset around affordability. Automakers must focus on sub-$30,000 vehicles with reasonable equipment levels that provide genuine value. Lenders must return to responsible underwriting that prioritizes sustainable debt-to-income ratios over loan volume. And dealers must prioritize their customers’ well-being, even if it means sacrificing profits.

The alternative is an industry that increasingly serves affluent buyers while abandoning the mass market that built a healthy American auto industry.

Rising repossessions aren’t a temporary correction — they’re evidence that current pricing and lending practices are fundamentally unsustainable. Affordability isn’t a luxury—it’s essential for long-term industry health.

08/05/2026

Dream BIG ! National Automobile Dealers Association

08/05/2026

08/03/2026

Best location in the nation

Monster, an employment and job board website, has named Akron the second best city in the United States for starting a career. Here's why. See link below ⬇️

📸 Mike Cardew, Akron Beacon Journal

08/03/2026

Thanks BMW of Akron & VW of Akron for being a Platinum Sponsor! “From our team to you, we're grateful for every neighbor, customer, and fellow Akronite who has supported us through the years — and we can't wait to see you on the porch." See everyone August 15th. BMW of Akron Volkswagen

07/30/2026

Thank you Cascade Subaru of Cuyahoga Falls

Today Cascade Subaru donated blankets and patient care boxes to the Falls Cancer Club Inc. Subarus program Subaru Loves to Care allows us to donate and try to help in the lives of cancer patients. Over 550,000 cancer patients will be supported by Cascade and all the other Subaru Retailers ! We are in the business of community and hope to help anywhere we can !

07/24/2026

The business of good has local impact.

Thank you Cascade Auto Group!

Shout out to Cascade Auto Group, a Platinum Sponsor of PorchRokr 2026, and a great philanthropic partner for the Greater Akron area. Cascade Auto Group

07/22/2026

Thank you Lifebanc

Thank you Akron for say “yes” to the gift of hope = life! 👍😇

Today is Life Banc Day at the Akron BMV.

Our Agency partnership with Lifebanc has HUGE local impact on our Akron community.

Imagine the last greatest gift you could offer other? 🤔 ….
.would it not be the gift of life! 👍

You saying “yes” today to organ donation WILL saves lives in the future.

Thank you Akron for saying “yes” to offering others the greatest gift ever….the gift of hope.

Akron BMV on Wolf Ledges

Ohio Bureau of Motor Vehicles