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Not only are lenders staying away from anything subprime, they’re also pushing more consumers toward the used-vehicle market. And with more than $5.7 billion in loans reported 60 days delinquent, Experian Automotive predicts further market volatility.
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The average interest rate for new-car loans rose slightly in April, while the amount financed increased, according to the latest Federal Reserve Statistical Report.
Read More →The average interest rate for new-car loans continued to drop in March, while the amount financed increased, according to the latest Federal Reserve Statistical Report.
Read More →The average interest rate for new-car loans dropped sharply in February, while the amount financed increased, according to the latest Federal Reserve Statistical Report.
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By the end of 2008, more than $7 billion worth of automotive loans were 60 days delinquent. Experian market analyst tracks the single-most challenging year for auto finance and provides her take on the road ahead.
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