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SECTOR REPORT: CAR FINANCE
Why are so many brokers thinking about writing car loans? In this sector report, we take a look at the auto lending space and how demand has opened new opportunities for brokers and lenders to take advantage of a rise in consumer car finance.
Car finance and auto lending have been booming. Ever since the initial shock of COVID-19 eased, demand for cars has been at record high levels. Prices for vehicles ratcheted up as cars became scarce, which was frustrated by labour shortages and manufacturing disruptions spurred on by the onset of the pandemic particularly when it came to the distribution of semiconductor chips.
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