Reported 8 months ago
According to Moody's Analytics, monthly auto loan payments for vehicles increased about 40% from pre-pandemic levels, with automakers benefiting from selling fewer cars at higher profits during supply shortages. iSeeCars.com Executive Analyst Karl Brauer predicts a shift towards lower prices as incentives return and supply increases, although prices are still far from pre-pandemic levels. This increase in loan payment has impacted consumers, with some facing monthly payments as high as $700,000.
Source: YAHOO