It doesn't take an economist to see that car buyers are in a tricky financial spot. Purchase prices are up, and as a result, loan terms have been extended to accommodate inflation-impaired budgets.
Many lenders, and especially purpose-driven ones, are rightly concerned about pushing borrowers into a negative equity position. But that worry need not hinder portfolio growth. Despite the economics, auto loan demand is healthy. And, credit unions are doing great in terms of meeting that demand, having attained the largest share of vehicle financing for the first time ever late last year.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
