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The Federal Reserve has cut its benchmark interest rate from its 23-year high, with consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses.
Auto loans tend to track the yield on the five-year Treasury note, and rate cuts are just starting to “trickle down” to auto loans, according to Keating. Rates at the start of November were ...
For first-time car buyers, one of the most daunting parts of negotiating a good deal right now is interest rates.The average auto loan rate for someone with excellent credit is 5.25%, according to ...
Roughly half of new cars in the U.S. are financed by the captive financing arms of car manufacturers, such as the Ford Motor Credit Company. [4] Captives have a smaller share of the overall car financing market (new and used cars), along with banks, credit unions, and finance companies.
Because rate cuts can affect numerous consumer products — including savings accounts, mortgages, auto loans and credit cards — some people may be tempted to make money moves to capitalize on ...
The Fed cut its federal funds rate — the interest rate banks charge each other for short-term loans — by 0.25 percentage points, lowered the rate to a range of 4.25% to 4.5%, down from its ...
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