US auto sales crushed expectations in October
Surprise! Leasing benzes and living at moms is a growing trend:
Average loan term for used cars is now 62 months — a record.
Loans with terms from 74 to 84 months made up 30% of all new vehicle financing — a record.
Loans with terms from 74 to 84 months made up 16% of all used vehicle financing — a record.
The average amount financed for a new vehicle was $28,711 — a record.
The average payment for new vehicles was $488 — a record.
The percentage of all new vehicles financed accounted for by leases was 31.46% — a record.
...so who's gonna whip that new 3-series for the next decade?
Edit: car loans hit a trillion for the first time ever.
Edited by TeamJordan79 - 11/16/15 at 4:34am