Posts Tagged ‘vehicle’

A recent report by consumer-credit-tracking firm Experian shows the average term for a new car loan is 67 months – a record.  And the average amount financed for a new vehicle is $28,711 – also a record.  The average monthly payment for a new vehicle is $488 – yet another record.  Bank of America predicts that new car-loan securitizations – the packaged sale of car loans – will reach $125 billion this year… Again, a record.  These loans will account for more than half of all consumer loan securitizations.  Keep in mind that roughly 30% of the loans in these securitized packages will be subprime. That’s why credit losses on these bonds are growing and beginning to reach levels last seen in 2008.” -Porter Stansberry

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