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July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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SEARCHMENUSEARCHCredit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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December brought some of the best borrowing availability for consumers in years, though lenders tightened their reins on riskier segments of the market.
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Solving mismatched payment quotes can boost sales, profits
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Data reflect growing finance activity on the extreme ends of credit risk scale
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The amounts owed on under-water trade-ins reach new highs.
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Though many auto consumers are finding it challenging to trade, dealers can leverage conditions to help them get over the hump.
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Recent patterns show good credit helps navigate high interest rates as highly leveraged consumers sink further.
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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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