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Why one of the nation's largest auto lenders isn't worried about high vehicle prices or 'forever loans'
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- The head of one of the nation's largest auto finance lenders isn't overly concerned about rising consumer automotive debt and inflated used car prices leading to longer loans on vehicle purchases.
- The percentage of income consumers are spending on their vehicles has remained relatively flat compared with 2019, before the coronavirus pandemic led to inflated pricing as demand surged but inventories stayed low.
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The head of one of the nation's largest auto finance lenders isn't overly concerned about rising consumer automotive debt and inflated used car prices leading to longer loans on vehicle purchases.
His main reasoning? The percentage of income consumers are spending on their vehicles has remained relatively flat compared with 2019, before the coronavirus pandemic led to inflated pricing as demand surged but inventories stayed low.
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