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Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
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SEARCHMENUSEARCHMost financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
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Slight May improvement came with risks to borrowers, lenders.
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Experian report shows other shifts, including banks clawing back market share.
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Overall April conditions didn’t benefit the consumer, especially those presenting more risk.
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Rethinking auto financing for a new era of buyers
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Q1 stats show more than ever are opting for seven-year loans for new vehicles.
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Mixed February conditions still produce highest Cox index reading in more than two years.
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Central bank waiting to see what happens under Trump administration. Auto loan rates, meanwhile, are rising again.
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Percentage in negative equity grows, and average amount owed reaches a record in Q4.
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