Auto refinance market benefits from reduced rates, better credit

Used-car prices surpassed $25K in April 2021

Photographer: David Paul Morris/Bloomberg

Low interest rates, high used-vehicle prices and improving credit scores have set the stage for auto refinance to grow in the first quarter of 2021. As of May 13, the average interest rate on approved auto refinance loans sat at 6.54% across all credit tiers for loans 36 to 72 months, an increase of 9 […]

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