A record share of people applying for auto loans were rejected this year, NY Fed survey findsPublished: Nov. 20, 2023 at 2:50 p.m. ET
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Andrew KeshnerFollow
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Rejection rates for all kinds of loans climbed in 2023, and application rates dropped, according to the quarterly NY Fed survey on credit access.
Did you have trouble getting a car loan this year? You’re not alone, according to a new report from the Federal Reserve Bank of New York. PHOTO BY BRANDON BELL/GETTY IMAGES
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Would-be car buyers say lenders have been tapping the brakes hard in 2023, according to a new look at consumer access to credit.
A record-breaking share of auto loan applicants say they’ve been rejected for loans this year, according to the Federal Reserve Bank of New York.
Based on surveys collected in February, June, and October, an average...
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Andrew Keshner
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