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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Consumers are continuing to prioritize auto expenses ahead of other payments, a credit bureau study finds, despite record job losses and shelter-in-place orders preventing many consumers from driving beyond trips to the grocery store or to seek medical care. Those financially affected by COVID-19 closures were about twice as likely …
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