How the Smart Chip Shortage Impacts Car Loans

Marshfield Medical Center Credit Union > Blog > How the Smart Chip Shortage Impacts Car Loans
chip shortage and auto loans

A global chip shortage continues to impact industries that manufacture electronics or products that incorporate electronics. This includes automobiles with technology features.

As a result, some auto manufacturers are limiting the technology in their new vehicles. For example, General Motors announced recently that it would temporarily suspend heated and ventilated seats in several models (with a plan to retrofit these vehicles when possible).

A chip shortage has led to a vehicle shortage and dealers are able to charge more for the vehicles they do have. Used cars are becoming an attractive option for some buyers. Find the value of a vehicle here.

If you need an auto loan, click here.

Leave a Reply