The Federal Reserve has raised interest rates three times in 2018 and is expected to increase them further in 2019. This has increased the average APR on a vehicle loan in September to 5.8%, compared with 4.8% a year ago. Rising interest rates increases the monthly cost of a new vehicle, making leases a more appealing option for your members who are seeking lower payments.
To experience continued growth in this rising rate environment, auto leasing should be at the forefront of your strategy. Otherwise, you're limiting your potential by missing out on this lucrative market:
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CREDIT UNION PARTNERS THAT OFFER LEASING