Navigating compliance amid challenging circumstances

The auto finance market has experienced an abundance of challenges over the last 24 months. The demand for used vehicles spiked in the aftermath of chip shortages, OEM shutdowns, and major labor shortages. Last year’s government forbearance led to a lack of repossessions and delayed lease terms, which generated the perfect storm of events culminating to new and used inventory shortages and repossession agent shops going out of business.

Although the current conditions are changing by the day, the overall outlook is seemingly stagnant through next year.

Here are 3 key predictions for auto finance in 2022:

• Delinquencies and repossessions are anticipated to remain static over the next 12 months

 

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