Joseph Yoon
ON THE RECORD · 4 verbatim quotes · every quote source-verified
“If that number ticks down over the next two months, it won't be because the broader lending environment suddenly turned loose,”
Joseph Yoon · said date not stated · reported 2026-10-28
Yoon cautioned that any near-term decline in auto loan rates would not reflect a loosening of the broader lending environment.
“The headline new-car APR has essentially flatlined at the 7% threshold all year,”
Joseph Yoon · said date not stated · reported 2026-10-28
Yoon described how new-car APRs have stayed near the 7% threshold throughout the year.
“For everyone else — particularly shoppers browsing the used-car lots where interest rates continue to hold above 10% — the high cost of borrowing isn't budging anytime soon,”
Joseph Yoon · said date not stated · reported 2026-10-28
Yoon noted that subsidized holiday rates mainly benefit new-car shoppers with top-tier credit, while used-car borrowers face rates above 10%.
“Historically, the fourth quarter creates an artificial sense of rate relief because automakers and their captive finance branches start lowering interest rates to move outgoing cars before December 31.”
Joseph Yoon · said date not stated · reported 2026-10-28
Yoon explained that year-end auto financing discounts create an artificial sense of rate relief.