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Extended terms driving refi applications

OpenRoad sees 60% YoY jump as consumers prioritize lower payments

Aidan Bush

Specialty auto refinance lenders’ application volume has been rising as consumers extend their loan terms to drive down monthly payments. Fort Worth, Texas-based refinancer OpenRoad Lending reported a 60% year-over-year increase in applications in June as of June 9, Chief Executive Chris Goodman told Auto Finance News. “Nine out of 10 customers take the lowest […]

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