DETROIT — As more car buyers try to lower their monthly payments by taking out longer auto loans, experts are seeing the number of upside down buyers grow.
Data from the Power Information Network, affiliate of J.D. Power and Associates, indicates that trend has increased over the past year. Research from Edmunds.com also showed more negative equity.
The news draws frowns from credit unions, which historically have considered auto financing a lead item on their loan menus, and at the same time want members to make wise financial decisions. But researchers point out this has happened before, and the market seems to adjust.
Continue Reading for Free
Register and gain access to:
- 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.
