Managing Money: ‘Everyone’s Responsibility’

Especially when the economy at large faces a downturn, consumers struggle to bounce back from financial mistakes. Automotive lenders and dealers aim to shield customers from financial risks that could prevent them from buying a vehicle, and many are disseminating educational resources to help their customers and mitigate potential losses.

When credit tightens on vehicle financing and transaction costs rise, many customers either choose to leave or are priced out of the new-vehicle market. Experts say dealers and lenders need to be creative to attract and retain customers in times of economic stress by making sure they’re equipped to pay for the vehicle they want or need.

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