Auto loan finance data released today shows millennials

Data released today shows millennials are increasingly using auto loan finance options for both new and used cars. Publicly traded lenders in this niche could see portfolio expansion and improved cross-selling opportunities in insurance products. Each factor was weighted based on our assessment of its value to consumers, using publicly available information and the expertise of Buy Side team members. Learn more about how we rate auto loans and maintain our editorial independence. To put it simply, auto loan rates aren’t expected to decrease measurably this year. This is primarily due to the continued work by the Federal Reserve to quell inflation, but interest rates for both new and used vehicles have steadily increased since the pandemic began in 2020. Auto loan finance stocks saw mixed movement today, with major lenders like Ally Financial trading at $34.82 (+1.2%) as rising Treasury yields pressured borrowing rates. Analysts forecast modest growth in auto lending Q3 2024 as consumer credit quality remains stable, but watch for potential margin compression if Fed rate cuts lag expectations.