Reported 17 days ago
Analyst John Murphy from Bank of America predicts that the Federal Reserve's recent 50-basis-point rate cut could reduce auto loan payments by approximately $20 per month. He emphasizes that while lowering rates will help consumer confidence and potentially unlock demand, the overall effect on affordability may be limited due to rising vehicle prices. Murphy suggests a shift towards more affordable vehicle types may be necessary to improve consumer access to the market.
Source: YAHOO