At 14.6 million, the total number of auto loan originations from January to August 2012 is at its highest mark since 2007, according to Equifax.
Total outstanding auto loan balances through October was more than $770 billion, which is an increase of 11% since auto loan balances bottomed out in April 2011, Equifax's National Consumer Credit Trends Report showed.
Similarly, the total number of existing auto loans through October was more than 58 million, which represents a 33-month high, according to Equifax.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
