Finance rates used cars year-to-date data shows finance rates

Year-to-date data shows finance rates used cars have climbed steadily in tandem with Fed rate hikes, weighing on automotive sector equities. This trend remains a key watchpoint for technical traders monitoring breakout levels. But with about two million fewer new cars sold in 2021 compared to 2019, the used market today is tighter than usual. Members of PenFed can find some of the lowest auto loan rates. To qualify for the lowest advertised rate, you must use PenFed’s car- buying service, which is available in all 50 states. Even if you don’t use the car- buying service, PenFed has some of the cheapest auto loan rates. Latest market insights show that finance rates used cars have a direct correlation with consumer spending in the auto sector. Rising rates may dampen demand, affecting publicly traded dealership stocks like CarMax (KMX). Analysts expect short-term volatility if the Fed tightens more aggressively.