Used car finance the U

The U.S. "used car finance" loan book hit $1.42 trillion in Q1, up 2.1% QoQ, per Experian's latest Auto Finance Market report. Strong consumer demand for certified pre-owned vehicles is driving sustained market expansion despite lingering macro uncertainties. Taxpayers already are taking a below-the-line deduction on the 1040 form — after calculating their adjusted gross income — when they claim the standard deduction or itemized deductions, such as mortgage interest and charitable contributions. You may still get approved for financing, but you'll likely be offered a higher interest rate and less favorable terms. In May, "used car finance" delinquency rates fell to 3.8%, their lowest level in eight months. This decline, combined with softening wholesale prices, could improve net recovery rates for lenders in the following quarter.