What another 25 basis points could do to already rising auto finance rates

Cox Automotive and Edmunds experts explained the potential intensifying challenge for dealerships and finance companies to get consumers the credit they might need to take vehicle delivery amid the rising interest rate environment.

A situation that even the Federal Reserve acknowledged to become even more complicated when policymakers unanimously chose to raise the target range for the federal funds rate to 4.75% to 5%.

“Since our previous meeting, economic indicators have generally come in stronger than expected, demonstrating greater momentum in economic activity and inflation,” chair Jerome Powell said after the Fed announced its latest rate increase on Wednesday. “We believe, however, that ...