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 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.

Sales for the world’s largest auto market continue to deteriorate, with the latest report confirming that passenger vehicle sales in China tanked yet again – this time dropping 16.6% year-over-year to 1.54 million units, following a 12% decline in March and an 18.5% slide in February.

Amid record auto loan abs issuance, record loan terms, and record high average payments, it’s no secret that the market for auto loans in the US has become dangerously stretched. Now, the NY Fed is out with what is perhaps the most shocking statistic yet on just how "darn easy" it is to get a car loan

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Americans have borrowed a record $1 trillion in car loans, which is the first time in U.S. history that they have owed this much, according to 14 News.The record figure was caused by strong car sales, rising car prices and low interest rates.

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 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.

What will affect what kind of car you can afford is shopping around to secure the best rate on your financing, checking that your credit is in good shape. and even with a Fed rate hike, banks may.

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High Delinquency Rates Have Led to Tighter Standards. Despite the drop off in subprime loans, borrowers with the lowest credit ratings still hold over $210 billion in auto loan debt or about 20 percent of the $1.1 trillion in total outstanding debt.