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Bold arguments regarding auto finance's future [Video]

Posted on Wednesday, July 13, 2016 at 6:50:56 PM

With so many major transformations taking place in the automobile financing, manufacturing and general transportation markets, it has become abundantly clear that the landscape will be far different from its current state in the near future. This will almost certainly have a major impact on consumers, as car buying represents such a massive piece of the overall economy. 

TechCrunch recently reported that while American debts to auto financing providers is above $1 trillion currently, that simply might not be the case in the coming years. Because of major trends in the models by which individuals purchase, own, sell and finance cars are all moving away from the traditional, more consumers might end up self-financing their own vehicles in the coming years. 

At the same time, many consumers will simply not have the money or safety nets necessary to do so in a financially sound fashion. Those who need a loan to cover the costs of purchasing a new or used car should always consider applying with a reliable, local financial institution that can guide them through the process of identifying the right program.