Borrowers at the largest credit union auto lenders have taken out a total of $48.37 billion in auto finance loans as of Sept. 30, according to SNL Financial, a bank and credit union data firm.
The Charlottesville, Va.-based firm reported that just over half of those balances (53.25%) were held in used car loans and rates for a direct five-year, new-car loan averaged 3.96% across the U.S. as of Nov. 7.
Rates for three-year, used-car loans averaged 4.18% and both rates fell over the past year.
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