Consumer accounts in forbearance declined across credit products for the first time during the monthslong coronavirus pandemic, credit bureau TransUnion said last week, an indication auto borrowers rolling out of financial hardship are landing on their feet. Government stimulus programs and lender accommodation programs are largely responsible for the market’s …
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Automotive loans in forbearance stayed relatively steady in June compared with record-setting growth in April and May, credit bureau TransUnion said last week. Flattening forbearance figures could be a subtle sign of improvement, but it likely represents a shuffling of impacted consumers. Auto accounts in financial hardship — defined by …
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Leasing, which comprises nearly one-third of new-vehicle sales, dropped in April to the lowest levels since 2015 as the coronavirus pandemic collapsed the top two leasing markets in the country and automakers saturated the market with loan incentives. Rising customer demand prompted automakers to pull back on many of those …
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