I’ve posted repeatedly about the importance of getting your financing ducks in line BEFORE you go to the dealership. You research AUTO credit score (not just your overall credit score) and determine the rate offers from your bank, local credit union, subaru financing for the highest level (subsidy rates). Understand what you can afford and the difference between wanting and needing a particular vehicle. Subaru’s subsidized rates are available to senior borrowers (tier one and two). Plan for a four-year term.
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“The auto loan rejection rate has reached an unprecedented high, reaching an all-time high in June. According to a recent Federal Reserve study, the 12-month auto loan rejection rate was 14.2% in June, a significant increase from 9.1% in February.”
Auto loan rejection rates are at an all-time high
The rate of auto loan rejections has reached an unprecedented high, hitting an all-time high in June. According to a recent Federal Reserve study, the 12-month rejection rate for auto…
www.automotiveaddicts.com
