I am reminded of this chart every time I drive by a car lot. Before the pandemic, financing and insurance profits made up 70% of the dealer’s profits. Now, due to price appreciation of their inventory, that percentage has changed. However, the dollar profits from financing and insurance continue to increase. Car dealers have become more like finance and insurance companies.
Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.
Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.