Tightening standards for car loans in the U.S. 2017-2022
In the third quarter of 2022, there were slightly more banks in the United States tightening rather than loosening the standards for car loans. The net percentage shows the difference between the senior loan officers that reported tighter standards and those that reported looser car loan standards. Any figure above zero signals that over 50 percent of respondents perceived stricter lending standards. In contrast, figures below zero indicate that at least half of the officers interviewed observed that lending standards were less strict.
