a day ago
- Automotive
- Wall Street Journal
Car Buyers Are Showing Up to Auto Lots With Cash to Spend
The consumer economy is cooling and car prices remain vastly higher from just a few years ago. But there is little sign that sticker shock at dealers' lots is straining affordability, according to the head of auto lending at JPMorgan's commercial bank.
Despite the dual sting of more than three years of above-trend inflation and a cooling labor market, household finances are still in solid shape, Chase Auto chief Leslie Wims Morris said in an interview. That has helped car buyers weather a brutal combination of higher vehicle prices and steep borrowing costs.
