12don MSN
Car payments just hit a record $787 a month—and 1 in 4 new-car buyers is now signing a 7-year loan
New-car payments, loan sizes and lifetime interest all set records last quarter, even with rates flat at 7%. Six-figure ...
One in four. That is now the share of Americans financing a new vehicle who sign a loan lasting seven years or longer.
New data shows average monthly auto loan obligations topping $700, while student loan borrowers face over $300 payments too.
1monon MSN
Rising Treasury yields could push car loan rates higher, experts say. What buyers need to know
Bond yields have spiked due to expectations of persistent inflation and further interest rate hikes from the Federal Reserve, which may impact auto loan rates.
According to Edmunds, new car buyers are now financing an average of $44,664. That is the highest amount ever recorded.
Millions of Americans have auto loans, which are more costly than in previous years due to inflated vehicle prices coupled with higher interest rates. Deciding which car loan company to choose for the ...
Credit unions often offer lower interest rates on car loans and tend to be more flexible with borrowers with poor credit.
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