Ben Eisen
speaker
1,467 appearances
35 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Ben Eisen’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
We all know that interest rates are rising a lot these days, but that translates into much higher expenses on a monthly basis for someone who's taking out a loan.
So if you can get a rate that's a point or two or three lower than what someone else is charging, that can be substantial savings for the borrower.
Credit unions are the ones who are adjusting their rates, but they're kind of slightly different institutions than banks or even finance companies or the lending arms of automakers.
They don't tend to be based on what's happening in the capital markets in terms of rates rising or falling.
Once they make the loans, because they don't sell them on to investors in the form of securitizations or something like that, instead keep them on their balance sheet, they really have a lot of flexibility to set their rates however they want.
There is an element of risk to this.
The auto lending market has gotten a lot frostier than it was, you know, even a few months ago.
And one of the things that's been concerning is that there are more people that are unable to pay their car loans.
So really anybody that's in the business of making auto loans, especially someone that's growing a lot right now, has to contend with, you know, what is the outlook going to be for the next year?
And is that going to put borrowers and therefore the lenders that lend to them at risk?
Historically, credit unions have performed pretty well.
They tend to have a pretty prime customer base, but we'll have to see what happens.
Credit unions require you to be a member in order to have an account there or take a loan out.
And so each one will kind of have different requirements.
But oftentimes, it's pretty basic, especially if it's a credit union that has a pretty wide customer base.
And you might pay some sort of membership fee or put some money in an account.
And that basically makes you a member that's therefore able to get a loan.
Yeah, you can look on a website like bankrate.com or something like that that tends to compare interest rates on loans with each other.
And credit unions will sometimes show up there, especially the larger ones that, you know, some of the largest credit unions are really the size of banks, and they tend to display their rates in kind of a similar manner.
Thanks for having me.
Showing 281–300 of 1,467 · page 15 of 74
← Previous
Next →