Loan Approval Rates Remain Unchanged, Poll Reveals | Auto Finance News

Loan Approval Rates Remain Unchanged, Poll Reveals

LAS VEGAS — Many lenders agreed that loan approval rates over the past 12 months “remained basically unchanged,” according to a poll conducted at the 2017 Auto Finance Summit late last month.

Out of all attendee respondents, 53% said approval rates remain unchanged, trailed by 25% of respondents who said loan approval rates “improved somewhat” this year.

Additionally, only 6% said approvals “improved considerably” and 17% responded with “declined somewhat,” according to the responses.

That being said, 0% responded with “declined considerably.”

  Like This Post
Latest Magazine Issue
Sign Up Email List
Big Wheels Auto Finance Data Link