Total consumer credit:
Tuesday, October 02, 2012
Auto financing and consumer credit
Average financing for new cars:
It appears that $28,000 is roughly the effective credit limit in recent years. Assuming an interest rate of 9.99% and a 72 month loan term the monthly payment works out to roughly $519.00.
Total consumer credit:
Auto financing is clearly a significant component of this metric.
Total consumer credit:
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1 comment:
Can you create another graph for auto loans for bad credit? It is still vague for me for the reason that there are a lot of people doesn’t have enough money to buy a car so they opt to apply for car loan. The problem that I mostly see is that there is a great number of people who have bad credit. I just want to know the graph of that problem but I know it is too complex.
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