The Federal Reserve has managed to aggressively raise interest rates and tighten financial conditions so much that it sparked a regional banking crisis and unleashed contagion in European banks. Even before the banking meltdown, financial conditions were tight, pressuring subprime consumers the most.
A new Federal Reserve Bank of New York survey shows the auto loan denial rate rose to 9.1%, a six-year high in February — and up from 5.8% in October.
BANKRUPTCYS are going to SOAR !!!! Thank BIDEN
Keep the Overpriced Autos !!!! They not worth HALF what they cost !!!
No more New vehicles for me !!! They NOT worth HALF the money they cost & Ruin Many Lives trying to Pay
for them !!!!