Payment Due Date Change Requests and Other Auto Finance Lender Challenges During Economic Recessions
Lightico
NOVEMBER 13, 2023
During a recession, borrowers frequently grapple with increased financial strain , stemming from job loss, reduced income, and heightened living expenses. As a result, they often face challenges in meeting their auto loan obligations, creating a surge in requests for due date changes, or even deferment of payments all together.
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