Car Affordability Impacting Auto Lending Market, Study Reveals

Reported 9 months ago

A recent study by TransUnion has shown that weaker consumer budgets in the US are affecting auto loan payments, with declines in applications since the pandemic. Consumers are cautious with big purchases due to inflation and the Federal Reserve's policies. The study noted a rise in auto delinquencies and increased monthly payments to manage higher debt levels, impacting the auto origination market further.

Source: YAHOO

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