Eversheds Sutherland Up to Speed Blog
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Auto Loans At All Time High

The amount borrowed by Americans to pay for vehicle purchases climbed to a record high of $968 billion in the third quarter.  Higher vehicle prices and an increase in auto sales, up 5.8 percent from a year ago, have driven increased borrowing. The majority of money borrowed, 61.3 percent, is by drivers with prime or super prime credit ratings. Borrowing by drivers with shaky credit,...