CU Direct this week said overall car sales will fall this year with used car sales and leasing accounting for an increasing share of transactions.
Credit unions' traditional strength in used car lending puts them at an advantage in gaining used car loans, but manufacturers will continue to dominate the leasing business, said Michael Cochrum, vice president of analytics and advisory services for the Los Angeles-area CUSO.
Cochrum noted that real income growth has been only 1.3% a year after inflation.
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