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What could move the needle in this car market is the Federal Reserve's latestinterest rate hike. That will push auto loan rates higher, which could deter more buyers, Yoon said, prompting dealers and manufacturers to start offering discounts to lure them back. watch now VIDEO11:51 How to e...
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Currently, the average annual percentage rate on a new car loan is 7.1%, and 11.3% for a used car, according to Edmunds. "A Fed rate cut wouldn't necessarily drive all those consumers back into showrooms right away, but it would certainly help nudge holdout car buyers back into more...
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(3.1%) will also narrow to 0.65 percentage points. This comes after the Loan Prime Rate (LPR) for terms over five years was lowered by 25 basis points, down from 4.2% to 3.95%, according to People's Bank of China (PBOC) on Tuesday. This marks the eighth decrease for the LPR with ...
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