The average car loan is now $785 a month — and lasts for almost 6 years
Americans borrowed a record $211 billion to pay for their cars last quarter.
Americans borrowed a record $211 billion to pay for their cars last quarter.
BELLINGS Intelligence Score: 12
Why it matters
The rise in average car loan size and duration reflects notable consumer credit trends but is routine market data without immediate impact on credit market structure or policy.
Sources
MarketWatch
The average car loan is now $785 a month — and lasts for almost 6 years
Americans borrowed a record $211 billion to pay for their cars last quarter.