The Earnix Blog

What technology can lenders implement to make pricing a competitive weapon, no matter how the market evolves?

What does it mean to have a proactive, optimal pricing strategy? The first, and most simple answer, is the ability to understand how the market will react to changes in price – how this will affect auto loan volumes – and then identify the ideal price across all cells. In order to be proactive, it is imperative that you are able to accurately model and forecast how various changes in rates will impact a customer’s probability of closing a loan.  

It’s a tough time to be an auto lender. Not only is the total auto loan amount financed decreasing, but in the third quarter of 2022, loan originations fell to their lowest levels since 2013.