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Interest Rates Further Squeeze Auto Consumers
Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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F&I Showroom Magazine
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SEARCHMENUSEARCHLast month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
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Supply backlog of 2023 vehicles nearly at prepandemic level.
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Credit access varied depending on vehicle, lender type, Cox says.
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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.
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