What you need to know

New car sales are slowing, driving competition in lending. While interest rates remain the most important consideration for borrowers, lenders – regardless of whether they are financial institutions, dealers, or third parties – have to find ways to differentiate themselves outside of rates. Customer service and convenience are also important, and lenders, dealers, and manufacturers are working to streamline the shopping, buying, and financing processes and make it possible for customers to do everything online if they want to.

Definition

This Report explores vehicle financing in the US, including the external and internal factors affecting financing options and trends and how they affect the borrower’s behavior. Financing options range from conventional loans from commercial banks and captive lenders to alternative financial services, such as buy here pay here auto financing and subprime lending.

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