How the Fed's rate cut will impact auto loans

Americans looking to buy a vehicle in the near future might feel hope that the Federal Reserve's 50-basis-point federal funds rate cut on Wednesday might bring down the interest rate on their next auto loan, but Bank of America analysts say there will not be much of an impact on borrowing costs in the near future.Ahead of the central bank's announcement, Bank of America Securities released an auto industry overview saying that relief may be around the corner, but it will take a series of cuts be