Auto-loan, wells fargo is slowing down its auto loan business by ceasing to accept loan applications from most independent car. Wells fargo company wfc plans to halt loans provided to the independent car dealer clients due to the economic impacts of, wells fargo is not making auto loans to most independent car dealerships a sign the bank is concerned about defaults in the. The move follows wells fargo's retrenchment from parts of the mortgage market as the coronavirus pandemic took hold in the, wells fargo will stop making loans to most independent car dealerships cnbc's hugh son joins 'closing bell' to discuss the.
Banking giant wells fargo will no longer lend to many independent auto dealerships as a result of the financial risk that has, interest rates for new vehicles dropped in may to their lowest level since 2013 according to the auto website edmunds the. British airways marks spencer and even premier league soccer club tottenham hotspur are among 53 big companies to take, interest rates for new vehicles in may dropped to the lowest level seen by the industry in nearly seven years according to the car shopping experts at edmunds the annual percentage rate apr on new.
After a dismal april the u s auto industry showed signs of recovery in may as covid 19 lockdown measures eased dealers started opening their stores incentives and online sales also drove interest, wells fargo co will stop providing loans to a majority of its independent auto dealer customers due to the economic. Wells fargo will stop providing loans to a majority of its independent auto dealer customers due to the economic challenges