New and used vehicles are a lot easier to find this year, now that supply chains are moving again. But now, car buyers may face another hurdle: getting a loan.
Earlier this week, Ally Financial said it plans to tighten standards for auto lending. Wells Fargo also said it’s setting aside more cash in case its existing auto loans go bad.
Lenders are worried that rising interest rates are making their loans too expensive.
“If people’s…
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