Growth in refinance could prompt fresh dealer chargebacks
Auto lenders face billions in potential profit losses tied to dealer markups
Auto lenders are likely to modify their policies amid a lack of chargeback provisions as more consumers look to lower their monthly payments through refinance. Given the tight supply landscape, car dealers are marking up interest rates on auto loans by an average of 3% over the lender’s rate to enhance their profitability, Rusty West, […]
Already subscribed? Log in
