The Auto Finance Market in a High-Cost Environment
As we move further into 2024, the automotive finance market faces significant challenges stemming from elevated vehicle prices and rising interest rates. These factors are reshaping consumer behavior and creating uncertainty for lenders and dealerships alike.
Some potential car buyers are finding it difficult to afford increasingly expensive new and used cars. Others are reconsidering the necessity of replacing their current vehicles, given the higher costs involved.
This article examines the specific strains on the market and offers some insights on what those within the automotive industry should prepare for in the coming months.
