SAN ANTONIO- The federal reserve may have cut interest rates by half a percent, but that might not be enough to get an avalanche of car buyers into local dealer
SAN ANTONIO- The Federal Reserve may have cut interest rates by half a percent, but that might not be enough to get an avalanche of car buyers into local dealerships anytime soon. Some in the auto industry feel it will take a series of rate cuts before consumers see affordability in the auto industry, but they feel rate cut is a good start.
Last week, the Federal Reserve cut rates. While some may assume it’s enough to see an uptick in vehicle buying, Rod Griffin, Sr. Dir. Consumer Education and Advocacy for Experian, a consumer credit reporting company, says a couple of hurdles remain such as loan approval and taking advantage of lower insurance rates.
Interest Rate Cut Auto Sales Car Buyers Vehicle Buying Loan Approval Consumer Credit Service Component
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