Auto loan approval ratings hit highest level since 2015

It hasn’t been this easy to get a car loan in years.

Why it matters: It comes amid a demand bonanza that got underway at the onset of the pandemic — when traveling by car became the more appealing mode of transportation.

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Car loan approval ratings are at the highest since 2015, according to Cox Automotive.

  • What’s happening: Auto loans are getting cheaper and lengthier, two factors that lower monthly payments — what “most consumers are focusing on, more than anything else,” says Cox Automotive economist Jonathan Smoke.

  • “Consumers have been consistently seeing better rates every month this year than a year ago — that’s really helped offset some of the inflation in vehicle prices,” Smoke says.

The big picture: The net percentage of banks making loans harder to get is at the

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Highest organised used car sales in India

a sign on an airport runway

© Provided by The Financial Express

Maruti Suzuki has added another feather to its hat as its pre-owned cars retail channel True Value has clocked 40 lakh used car sales till date. The company had upgraded its True Value outlets in the year 2017 offering an amalgamation of online to offline car buying experience. With this change, Maruti Suzuki believes that a modern and progressive outlook was created in order to match the customers’ profile and deliver an enhanced experience. Maruti Suzuki’s True Value started its journey back in the year 2001 and it currently has over 550 outlets across 268 Indian cities. The brand sells used cars only after a 376 check quality evaluation, refurbishment and certification process. True Value certified cars also come with up to 1-year warranty and 3 free services.

The pre-sales checks at Maruti Suzuki True Value include checking of original documents, along with verification

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