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SOURCE TheStreet, Inc.
RateWatch Survey Assesses Consumer Decision Making Around Car Loans
NEW YORK, June 25, 2014 /PRNewswire/ -- Today, RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) released the results from of a new survey: Auto Lending: Today's Customer. The data shows how consumers are thinking about car loans and what factors impact how they buy and finance a vehicle.
The survey found that many consumers overlook or are not interested in refinancing their auto loans:
"Auto-loan refinancing tends to be somewhat uncommon and it's unfortunate since consumers can save thousands of dollars in the course of paying off their loan," said Ross Kenneth Urken, Personal Finance Editor for TheStreet. "It's a technique more consumers need to recognize as beneficial to their finances."
The survey also revealed that consumers are paying off their loans with varying interest rates:
For more about this survey, please visit https://www.rate-watch.com/press-release/auto-lending-survey-062014. For the full story on MainStreet, please visit http://www.mainstreet.com/article/smart-spending/autos/auto-loan-refinancing-lesser-used-trick-accelerate-savings.
This survey aims to understand the behaviors and preferences of consumers regarding their current loans and future loan plans. Survey responses were obtained through a third party service with questions distributed March 28 to March 30, 2014 to consumers ages 18 and older throughout the United States. 608 total unique responses were received with 527 having completed the full survey.
For over 20 years, RateWatch has been the premier provider of competitive interest rate and product information to financial institutions across the United States. Consistently providing top quality, highly relevant data RateWatch maintains the largest database in the industry with deposit, loan, and fee information monitoring over 97,000 locations. Rate surveys, product comparisons, financial strength reporting, local/regional/national averages, fee reporting, specialty reports and more are available. To learn more about RateWatch, visit www.rate-watch.com. RateWatch is a division of TheStreet, Inc.
TheStreet, Inc. is the leading independent digital financial media company providing business and financial news, investing ideas and analysis to personal and institutional investors worldwide. The Company's portfolio of business and personal finance brands includes: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, MainStreet and RateWatch. To learn more, visit www.thestreet.com. The Deal, the Company's institutional business, provides intraday coverage of mergers and acquisitions and all other changes in corporate control. To learn more, visit www.thedeal.com.
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