Auto loans hit record high, sending borrowers with the best credit to the used market – Fasti News

News Ticker [ June 7, 2019 ]. Auto loans hit record high, sending borrowers with the best credit to the used market .. Getty Images People buying a new vehicle are borrowing more and paying more each month for their auto loan. Experian, which tracks millions of auto loans each month, said

Auto loans hit record high, sending borrowers with the best credit to the used market CNBC – Phil LeBeau People buying a new vehicle are borrowing more and paying more each month for their auto loan.

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Auto loans hit record high, sending borrowers with the best credit to the used market June 6, 2019 Business News US Business People buying a new vehicle continue pushing the envelope, borrowing more and, on average, paying more each month for their auto loan.

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The national auto loan delinquency rate – the rate of borrowers 60 or more days past due – reached its lowest level since TransUnion began tracking the data in 1999. Auto loan delinquency rates in 1Q12 dropped to 0.36%, down from 0.49% in 1Q11 and down from 0.46% in 4Q11. "Auto loan delinquencies continue to [.]

Auto Loans Hit Record High, Sending Borrowers with the Best Credit to the Used Market People buying a new vehicle are borrowing more and paying more each month for their auto loan, reports CNBC . Experian, which tracks millions of auto loans each month, said the average amount borrowed to buy a new vehicle hit a record $32,187 in the first quarter.

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Types of auto financing loans for those with bad credit. Most car buyers require some sort of financing to purchase a vehicle. Before shopping for a car, carefully explore your options for financing so you can get the best possible interest rate and terms.

Experian, which tracks millions of auto loans each month, said the average amount borrowed to buy a new vehicle hit a record $32,187 in the first quarter. The average used-vehicle loan also hit a record, $20,137.