Elevated auto loan rates hinder car shoppers in Q1 2024
Analysts say return of incentives not
enough to combat high interest rates
(April 3, 2024) SANTA MONICA, Calif. — Affordability challenges highlighted by stubbornly high interest rates are impeding growth in the new and used car markets, according to the car shopping experts at Edmunds. Tied to wider hurdles from the current high inflationary environment (such as the near-extinction of the $20,000 new vehicle), auto financing is hampered even with the return of new-vehicle incentives.