With 2013 fast coming to a close, new car sales have wildly exceeded even the most optimistic forecasts made at the beginning of the year – and increasingly easy and affordable credit is one of the factors planners and analysts cite for the industry’s resurgence.
However, the burning question heading into next year is: will that trend continue? While some observers worry the market might be ready to cool down, favorable credit trends could keep it going, according to a survey by WalletHub.com
“Interest rates will remain low for the foreseeable future due to the combination of record-low credit losses – with the exception of a single quarter in 2006, charge-offs are at the lowest level since 1995 – and the Federal Reserve’s commitment to retain current policies until more demonstrable economic improvement takes place,” said Odysseas Papadimitriou, WalletHub’s chief executive officer. (more…)