By David Henry Dec 4 (Reuters) - U.S. consumers buyers are taking out bigger car loans with longer pay-back periods as lenders offer lower interest rates and accept borrowers with weaker credit ratings, a report released on Wednesday showed. The average loan on a new car climbed to $26,719 in the third quarter, up by $756 from a year earlier, and the most in at least five years, according to data collected by Experian Plc . Despite borrowing so much more, average monthly payments on new car ...
To access this content simply register below now.
Registering is easy and allows you to:
- Access all WardsAuto.com public content and newswire stories
- Participate in forums
- Comment on articles
- Sign up for e-newsletters
- And much more!