Introduction When purchasing a car on finance, many buyers focus primarily on the sticker price and monthly payments. However, the terms of the loan, especially its duration, play a crucial role in determining whether a buyer might face negative equity. The recent Consumer Financial Protection Bureau (CFPB) report provides valuable
Imagine you’re at a car dealership, excited to pick out your new ride. You’ve found the perfect car, and it’s just within your budget. But there’s a hitch: your credit score isn’t quite up to the mark. Traditional scoring methods say you’re a risk, but are they telling the whole
In the vast world of auto financing, consumers with lower credit scores often find themselves navigating a confusing labyrinth. Recent findings by Open Lending spotlight a crucial roadblock: the lack of clear information and trust in the auto loan process. This journey, fraught with increased monthly payments and a high
The Evaporation of Zero Percent Financing: What’s Behind the Decline and Its Impact on Auto Shoppers In the wake of the COVID-19 pandemic, the automotive industry experienced unprecedented turbulence. As dealers and automakers scrambled to navigate this uncertain landscape, they turned to a familiar incentive to entice buyers: zero percent
The Rise of Credit Unions in the Auto Financing Market (PDF) Credit unions are expected to remain strong competitors in the auto financing market in 2023, following their exceptional performance in 2022. During Q4 of 2022, credit unions originated 27% of all auto loans and leases, making them the largest
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