What a September rate cut could mean for auto loans

WIth the Federal Reserve doubtlessly making its first cut to rates of interest in September, many questions come up as to the way it will impression sure industries and funds, together with auto loans.
Cox Automotive government analyst Erin Keating joins Wealth! to interrupt down what could occur with auto mortgage charges if the Fed begins to cut charges in September.
“When the interest rates drop there, we would see a drop in auto loan rates. We don’t suspect that they will actually drop them as much as perhaps like credit card rates and things like that. But every consumer out there is battling affordability right now,” says Keating. “So if the interest rates are going to come down, it’s going to impact everything else in their portfolio of what they’re managing for their money.”
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