New-vehicle financing reaches record high
Monthly payments, interest rates and loan terms also moved up in Q3
The average amount financed on new-vehicle purchases climbed to a record high in the third quarter as loan terms lengthened and monthly payments continued to grow. Consumers buying a new car financed, on average, $41,665 in Q3, an increase of 3.41% sequentially and up 10.4% year over year, according to Experian’s Q3 auto finance market […]
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