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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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F&I Showroom Magazine
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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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Compared to millennial cohort a decade ago, they’re tapping credit more and have higher delinquency rates, report found.
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Borrowers seeking to buy vehicles despite affordability issues were the top culprits last year as newer methods increase.
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Less than 1% say they collect a digital copy, validate and compare against DMV records.
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What auto retailers and lenders can do to help consumers get into a car loan they can afford.
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CFPB looking into consumer credit account data. Company says it’s cooperating.
Read More →The company says it remains the largest auto lender as an aggregate for nearly three years.
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New- and used-vehicle averages jumped in late January, though they peaked in the fall.
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