How bad is auto financing right now? I guess pretty bad, HSBC said it will stop making new auto loans through U.S. dealerships and direct-to-consumer channels, according to autonews.com. Or to put it another way, “we ain’t given’ out loans to the U.S. for cars anymore”.
HSBC will take about three years for most of its $12.5 billion auto loans to be paid off, as we make our monthly payment. Since March, HSBC, the consumer finance arm of English financial HSBC Holding PLS, has been reduction its auto loan business.
Source: autonews.com (Subscription required)
Related Articles
No user responded in this post