The demand for new cars and light trucks pushed auto loan originations to $69.6 billion in January and February, the highest mark since 2009, according to Equifax.
New credit for auto loans originated in those two months nearly topped the $70 billion mark, which was more than 70% above the recession low of $40.2 billion for the same period in 2009, data from Equifax's National Consumer Trends Report showed.
While Equifax noted that 3.5 million new auto loans originated in January and February, the total number of loans reached 59.8 million, a nearly four-year high.
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