Mexican Media Brands
U.S. Auto Financing Amounts Reach New Highs
The average amount being financed for new-car purchases in the U.S. climbed to an eight-year high of $29,600 in the fourth quarter of 2015, Experian Information Solutions Inc. reports.
#economics
Share
The average amount being financed for new-car purchases in the U.S. climbed to an eight-year high of $29,600 in the fourth quarter of 2015, Experian Information Solutions Inc. reports. Average monthly payments rose to $493.
Both figures are the largest since the Florida-based company’s Experian Automotive unit began tracking the data in 2008.
Experian says financing for used cars, which accounts for almost two-thirds of all vehicle financing and monthly payments in the U.S., also advanced to record highs of $18,900 and $359, respectively.
The average new-vehicle loan at the end of last year was 67 months. Used-car loans averaged 63 months, according to the company.
RELATED CONTENT
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.