With credit scores for auto
loans hitting new highs, consumers will likely receive less money for trade - ins.
Not exact matches
I read a story recently that auto
loans have
hit a
new high, especially among subprime borrowers.
«Mortgage rates on 30 - year
loans have increased 50 basis points since the week prior to the election,
hitting their
highest level since October 2014, and causing refinance application volume to dip 28 percent to a
new low for the year,» said Mike Fratantoni, MBA's chief economist.
As credit scores for
new auto
loans hit record
highs, lenders have also tightened their standards and are lending less based on purchased vehicle values.
As credit scores for
new auto
loans hit record
highs, lenders have also tightened their standards and are lending less based on purchased vehicle values.This is good news for the auto lending industry because narrower credit standards are «starting -LSB-...]
I expect delinquent subprime
loans to keep
hitting new highs.
Your credit scores will probably be fine since they were so
high and an installment
loan isn't necessarily a big
hit or a
hit at all, but you will have to contend with another issue... a
higher DTI ratio as a result of a
new monthly liability.
Furthermore, the study shows that the average
loan amount for a
new vehicle in the fourth quarter of 2014 once again
hit its
highest level on record, reaching $ 28,381.
• The average credit score for a
new - vehicle
loan dropped 3 points in Q4 2014 to reach 712 • The average credit score for a used vehicle loan increased 2 points in the quarter to reach 648 • In the fourth quarter of 2014, the average monthly payment for a new vehicle hit $ 482 — its highest level on record • Interest rates for new - vehicle loans crept up in Q4 2014 to 4.56 percent • Loan terms for new and used vehicles increased from a year ago to reach 66 months and 62 months, respectively • Captives were the only lender type to see an increase in market share year over
loan dropped 3 points in Q4 2014 to reach 712 • The average credit score for a used vehicle
loan increased 2 points in the quarter to reach 648 • In the fourth quarter of 2014, the average monthly payment for a new vehicle hit $ 482 — its highest level on record • Interest rates for new - vehicle loans crept up in Q4 2014 to 4.56 percent • Loan terms for new and used vehicles increased from a year ago to reach 66 months and 62 months, respectively • Captives were the only lender type to see an increase in market share year over
loan increased 2 points in the quarter to reach 648 • In the fourth quarter of 2014, the average monthly payment for a
new vehicle
hit $ 482 — its
highest level on record • Interest rates for
new - vehicle
loans crept up in Q4 2014 to 4.56 percent •
Loan terms for new and used vehicles increased from a year ago to reach 66 months and 62 months, respectively • Captives were the only lender type to see an increase in market share year over
Loan terms for
new and used vehicles increased from a year ago to reach 66 months and 62 months, respectively • Captives were the only lender type to see an increase in market share year over year