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Car Shoppers Could Pay More if U.S. Defaults

If the United States government can’t reach an agreement on whether or not to raise the debt ceiling, and ultimately defaults, consumers will pay more for an auto loan or lease. “A default almost certainly could cause many types of interest rates to rise, thus making it costlier for businesses and consumers to borrow money for everything from building factories to buying homes,” the Los Angeles Times reports. This includes car loans and leases for both new and used ... continue reading»

Tags: Analysis, interest rates, auto loan rates, auto lease, car loan, auto financing, u s debt ceiling, u s default