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Fed. Rate vs vehicle finance rate
Posted on 8/7/24 at 4:10 pm
Posted on 8/7/24 at 4:10 pm
If Powell does reduce rates 3 times this year are vehicle rates also affected? If so, is it down? But then what about vehicle purchase price and inflation spurred by reducing rates?
I’ll be in the market soon. excellent credit. Mortgage debt only.
I’ll be in the market soon. excellent credit. Mortgage debt only.
2
Posted on 8/7/24 at 4:52 pm to Kolbysfan
Yes. Short term rates will go down in this scenario. Unless this is the big one! But it’s probably not.
Posted on 8/7/24 at 5:54 pm to Kolbysfan
Rule of thumb used to be 3Y UST plus 150bps was the expected rate on a 5 year loan. Anything better than that was a win. Anything higher was a loss. Now dealerships fastest growing revenue line is getting paid by those that securitize car loans into bonds. The higher the rate the dealership passes on to you, the higher their compensation. They’re trying to get away with passing on 3Y UST plus 350bps rates.
Posted on 8/7/24 at 5:57 pm to UpstairsComputer
It won’t happen immediately
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