Tapped-out consumers are finally balking at overpaying for used cars and more than half of auto dealer credit applications for buyers are being denied

The consumer is showing signs of weakening: pic.twitter.com/lQrIAfC7CO

— QE Infinity (@StealthQE4) July 30, 2023

JayPo said financial conditions tightening last week referring to this

Credit is undoubtedly tightening as auto loan rejections hit highs and credit profile of borrowers deteriorate.

Further tightening expected when student loan moratorium ends and excess savings dry up. https://t.co/Fgfujr4V6d

— The Macro Guy (@SagarSinghSetia) August 1, 2023

h/t Simian_Stacker