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Buying, Selling, Leasing and Trading In Cars with Car Dealership Guy
All the Hacks with Chris Hutchins
Impact of Interest Rates on Car Financing
Interest rates affect car financing by increasing the cost for lower credit customers due to higher bank fees, limiting financing options for those with bad credit. Banks must charge larger fees to mitigate risks for subpar credit customers, leading to challenges for dealers and some banks in justifying lending to lower credit customers. Better credit customers have more financing availability and options due to their lower risk profile and ability to maneuver around increased fees or rates.
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