Under the Hood: Securitizations point to unaffordability of used cars

Though vehicle values have been inching lower much of the year, recent securitizations indicate that consumers are increasingly relying on extended loan terms to afford their used-car purchases. Chase Auto’s Aug. 11 securitization is a case in point. In the transaction, 84.6% of the underlying loans have original terms exceeding 60 months, according to Fitch […]