New and used car prices, sky-high interest rates and the looming impacts of inflation. Director of Finance Company Markets, Suzi Straffon, breaks down the latest trends in Auto Finance.
In this episode…
[0:31] Meet Suzi Straffon
[1:35] How did we get here?
[2:34] I saw an interesting stat – 88% rise in index pricing from April 2020-January 2022.
[5:25] Also on the table is a potential recession, many analysts expect a mild recession.
[8:00] Things that are affecting default rates.
[9:27] It’s really expensive to own a vehicle.
[9:41] The average transaction price for a new vehicle is $48,700.
[11:05] Used car prices have come down.
[13:38] Vehicle affordability is going to continue to be a challenge.
[16:07] The CFPB’s focus the last few years and how lenders are responding.
[19:01] Right now, there is a big competition for loan share.
[21:45] In this market, would you purchase new or used?
