Report: More new cars leased than ever
Americans are leasing more new vehicles than ever and borrowing more than ever when they buy, says Experian Automotive in its quarterly “State of Automotive Financing” report issued Thursday.
A third of new car and truck transactions in the last three months of 2015 were leases, up from 29.9% a year earlier and more than 10 percentage points higher than the level in the fourth quarter of 2011.
The average new auto loan also reached a record $29,551, up 4% from a year earlier
This data comes one week after Fitch Ratings reported that delinquencies of securities backed by subprime auto loans... read more
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