Stories Tagged as
Auto loans
Loan applications are down, rejections are up. This could be good for taming inflation.
Nov 20, 2023
The application rate for any kind of credit dropped to just over 41% this year from nearly 45% in 2022, according to a Fed survey.
A good repo man is hard to find
by
Matt Levin
Nov 7, 2023
The repossession industry is struggling with an enduring labor shortage, while 1.5 million car repos are expected this year.
Car prices are still stubbornly high
Aug 21, 2023
$20,000 used to be the starting point for a new car. Now there’s only one remaining model on the market that sells for around that figure … the Mitsubishi Mirage.
After years of not being able to get them, Americans want their wheels — no matter the cost
Jul 6, 2023
New light vehicle sales, including cars, SUVs and pickups, were up about 20% in June from this time a year ago.
Americans’ use of credit is growing, but slowing
Feb 8, 2023
In 2022, consumer credit increased 7.8% from the year before. But in December, the growth in borrowing decelerated.
Vehicle sales tell story of separate economic realities
by
Erika Beras
Jan 15, 2021
The average selling price of new vehicles reached a record high in late 2020. Last year also saw vehicle loan debt increase to record levels.
Consumer lending is a bright spot for big banks
by
Justin Ho
Oct 17, 2019
Even as retail sales growth is showing signs of stalling, consumers are continuing to borrow.
For public good, not for profit.
Auto loans are taking longer to pay off
by
Kai Ryssdal
and Bennett Purser
Oct 2, 2019
That could hurt consumers but benefit banks and dealerships.
Auto loan delinquencies rise for younger drivers
by
Erika Beras
Feb 14, 2019
New car sales have been high for the past few years, and that means there are a lot more car loans out there. There are a lot more delinquent ones, too. According to a report from the New York Federal Reserve, 7 million borrowers are at least 90 days late on their payments, the highest […]
Consumer Financial Protection Bureau warns of longer-term car loan risk
Nov 7, 2017
There’s been a big increase in the number of long-term car loans purchased by U.S. drivers in recent years, according to a recent report by the Consumer Financial Protection Bureau. Longer-term loans mean smaller monthly payments for borrowers, but they also mean more risk. Click the audio player above to hear the full story.