All 12 governors of the Federal Reserve’s Open Market Committee voted to raise their target lending rate by one-quarter of a point to temper inflation. +
AutoPayPlus’s Robert Steenbergh says pay cycle alignment has entered the mainstream as extended loan terms raise costs and lower retention rates. +
New and used car buyers borrowed more but secured lower interest rates in the second quarter as competitive monthly payments helped hybrids gain market share. +
Dealertrack’s Credit Availability Index inched up to 102.4 in April, but analysts say subprime borrowers’ share of the market fell “sharply” after a March surge. +
Edmunds analysts say the average negative equity balance on dealership trade-ins rose to $7,214 in the fourth quarter, reflecting pandemic-era originations and prolonging a four-year trend. +
Strong July sales reports were matched by a third consecutive month of improved credit access, according to Dealertrack’s latest Credit Availability Index, which climbed to 98.1. +
Sen. Bernie Moreno’s USA CAR Act would allow buyers of American-made vehicles to deduct interest paid on their auto loans, formalizing a tax policy repeatedly floated by President Donald Trump. +
