{"version":"1.0.0","episode":{"title":"Pinewood.AI CEO on why Apax deal fell apart; buyers stretch loans to 7 years","url":"http://getcarcurious.com/episodes/pinewood-ai-ceo-on-why-apax-deal-fell-apart-buyers-stretch-loans-to-7-years","audioUrl":"https://dts.podtrac.com/redirect.mp3/www.buzzsprout.com/2447022/episodes/18797554-pinewood-ai-ceo-on-why-apax-deal-fell-apart-buyers-stretch-loans-to-7-years.mp3","description":"Pinewood.AI CEO Bill Berman explains why private equity firm Apax Partners backed out of acquiring his company, and it has everything to do with AI disruption fears in the software market. More buyers are stretching auto loans to seven years or longer just to afford record vehicle prices. Plus, the Iran conflict forces automakers to delay Middle East shipments."},"annotations":[{"startTime":143.5,"endTime":152.2,"type":"term","title":"vehicle ownership expenses","url":"/glossary/vehicle-ownership-expenses","quote":"Vehicle ownership expenses jumped 48% from 2019 to 2025, far outpacing inflation when you factor in insurance, maintenance, and fuel.","canonicalId":"term:vehicle-ownership-expenses","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Vehicle ownership expenses include all the costs associated with owning a car, such as insurance, maintenance, fuel, and depreciation. These costs can significantly impact a buyer's budget beyond just the purchase price.","simplifiedExplanation":"When you own a car, you have to pay for more than just buying it. You also pay for things like fixing it, gas, and insurance. These costs add up and affect how much owning a car really costs."}},{"startTime":183.9,"endTime":190.2,"type":"company","title":"Edmunds","url":"/glossary/edmunds","quote":"According to Edmonds, just under 21% of new vehicle buyers financed for 84 months or more in the fourth quarter.","canonicalId":"company:edmunds","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Edmunds is an automotive information company that provides data on car prices, reviews, and financing trends to help consumers make informed decisions.","simplifiedExplanation":"Edmunds is a company that helps people learn about cars and prices so they can buy smarter."}},{"startTime":183.9,"endTime":191.8,"type":"term","title":"84 months financing","url":"/glossary/84-months-financing","quote":"According to Edmonds, just under 21% of new vehicle buyers financed for 84 months or more in the fourth quarter.","canonicalId":"term:84-months-financing","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Financing a vehicle for 84 months means spreading the loan payments over seven years, which lowers monthly payments but increases total interest paid and risk of owing more than the car's value.","simplifiedExplanation":"When you buy a car and pay for it over 7 years, your monthly payments are smaller but you might pay more money overall and could owe more than the car is worth."}},{"startTime":197.9,"endTime":205.7,"type":"company","title":"Kelly Blue Book","url":"/glossary/kelly-bluebook","quote":"According to Kelly Bluebook, average new vehicle prices hit a record more than $50,300 in December.","canonicalId":"company:kelly-bluebook","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Kelly Blue Book is a well-known vehicle valuation and automotive research company that tracks car prices and market trends.","simplifiedExplanation":"Kelly Blue Book helps people figure out how much cars are worth and what prices are fair."}},{"startTime":206.6,"endTime":212.0,"type":"term","title":"being underwater on a loan","url":"/glossary/being-underwater-on-a-loan","quote":"Buyers end up paying more interest over time and risk being underwater on their loans.","canonicalId":"term:being-underwater-on-a-loan","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Being underwater on a loan means owing more money on the car loan than the car's current market value, which can be risky if you need to sell or trade in the vehicle.","simplifiedExplanation":"If you owe more money on your car than it is worth, that's called being underwater, and it can make selling or trading the car difficult."}},{"startTime":284.02,"endTime":322.52,"type":"term","title":"loan term","url":"/glossary/loan-term","quote":"If a customer or buyer is really interested in a longer loan term, they will really, really weigh that with their background, essentially. Take a look at their accredited score, their history, and decide whether or not to give them that loan term based off of that, which is going to really hopefully be able to point to whether or not they're going to be able to pay off those loans and be able to avoid that negative equity later on down the line.","canonicalId":"term:loan-term","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Loan term refers to the length of time over which a car loan must be repaid. Longer loan terms can reduce monthly payments but may increase total interest paid and risk of negative equity.","simplifiedExplanation":"Loan term is how long you have to pay back the money you borrow to buy a car. Longer times mean smaller payments but you might end up owing more overall."}},{"startTime":301.6,"endTime":322.52,"type":"term","title":"negative equity","url":"/glossary/negative-equity","quote":"Take a look at their accredited score, their history, and decide whether or not to give them that loan term based off of that, which is going to really hopefully be able to point to whether or not they're going to be able to pay off those loans and be able to avoid that negative equity later on down the line.","canonicalId":"term:negative-equity","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Negative equity occurs when the amount owed on a car loan is more than the car's current market value. This can happen if the car depreciates faster than the loan is paid down.","simplifiedExplanation":"Negative equity means you owe more money on your car than what it's worth if you tried to sell it. This can happen if the car loses value quickly."}},{"startTime":341.1,"endTime":345.4,"type":"term","title":"credit check","url":"/glossary/credit-check","quote":"to people without a ton of like a credit check and stuff like that for these longer loan terms and obviously generally at higher interest rates as well.","canonicalId":"term:credit-check","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"A credit check is a review of a person's credit history by lenders to assess their ability to repay a loan. It influences loan approval and interest rates.","simplifiedExplanation":"A credit check is when the bank looks at your history of paying back money to decide if they will lend you money and how much it will cost."}},{"startTime":345.4,"endTime":349.6,"type":"term","title":"interest rates","url":"/glossary/interest-rates","quote":"for these longer loan terms and obviously generally at higher interest rates as well. He said if there's going to be any result that any people that are driving that, it's going to be those lenders","canonicalId":"term:interest-rates","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Interest rates are the percentage charged by lenders on top of the loan amount, representing the cost of borrowing money. Higher interest rates increase the total cost of a car loan.","simplifiedExplanation":"Interest rates are extra money you pay when you borrow money to buy a car. Higher rates mean you pay more over time."}},{"startTime":626.4,"endTime":630.9,"type":"concept","title":"digital retailing","url":"/glossary/digital-retailing","quote":"That's where auto traders accelerate my deal elite. Online checkout comes in. Accelerate my deal elite isn't just another digital retailing tool that takes the dealer","canonicalId":"concept:digital-retailing","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Digital retailing refers to the process of buying and selling vehicles online, allowing customers to complete much of the car purchase process remotely without visiting a dealership in person.","simplifiedExplanation":"Digital retailing means you can buy a car on the internet without having to go to the car dealer. You can do most of the buying steps online."}}],"speakers":[{"id":"s1","name":"Automotive News","role":"host"}],"transcripts":[{"url":"http://getcarcurious.com/episodes/pinewood-ai-ceo-on-why-apax-deal-fell-apart-buyers-stretch-loans-to-7-years/transcript.vtt","type":"text/vtt"}]}