• America's obsession with trucks and SUVs is helping push car loan payments to a 10-year high

    8 days ago - By Business Insider

    The average car loan payment just hit a decade high.
    It's a result of Americans' renewed zeal for trucks and SUVs .
    But the keenness for big cars - and the ease with which lenders have issued car loans to even high-risk recipients - has boosted loan delinquencies to record highs.
    The average car loan payment just hit a decade high, according to Experian data first reported by Automotive News .
    In 4Q18, the average new car loan in the US was $545 per month and $387 per month on average for a used vehicle. The average interest rate was 6.3%, also a decade high, according to Edmunds.
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