Car loan rates head for 14-year high in new barrier for buyers
Car loan rates head for 14-year high in new barrier for buyers
By Craig Trudell | Bloomberg
Just as automakers start making headway sorting out the parts shortages that have constrained production and left dealers with a scarce supply of vehicles to sell, the Federal Reserve is putting up a new obstacle: much costlier car loans.
The average annual percentage rate on new-car loans was 6.3% last month, the highest since April 2019, according to Edmunds. The…
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