According to the latest Equifax National Consumer Credit Trends Report, the total balance of auto loans mid-way through 2014 is $902.2 billion, a record high and increase of more than 10% from the same time a year ago.
In that same time, the total number of auto loans outstanding is more than 64 million.
Read What Dennis Carlson, Equifaxs Deputy Chief Economist says about this.
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The Article
Auto Loan Balances Exceed $900 B for First Time in History appeared first on Automotive Digest.