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How long will it take yesterday's Federal Reserve interest rate cut to affect auto loan rate (if at all)?

B

Boogak

Diamond Member
Just paid off my A4 and been wanting to trade it in for a 350Z. Been looking at eloan.com for a week and their new auto loan rate dropped from 3.99% to 3.79% early last week before the announced cut. Curious to see if it'll go lower now after yesterdays news...
 
i am not sure it will really affect auto loans, it was only a quarter point cut? right?

rates are already in the mud, home loans should move down just a tad, eventually
 
I have heard that the rates are getting to the point where further cuts by the Fed may not trickle down
rapidly to consumer level loans, because there is a baseline cost of companies to make the loan. So I
wouldn't hold my breath, basically.
 
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