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Average outstanding auto loan debt balances increased by 5.2% to $23,792 from Q3 2022 to Q3 ... Texas leads the pack when it comes to auto loans. At $29,164, no other state sported a larger ...
In terms of the type of debt, auto Loans are stressing otherwise low-cost states, such as Texas, Georgia and Florida, the report noted. Here are the top 10 states most impacted by U.S. in 2023 ...
But almost a quarter of the rising debt in 2023 Q4 was from credit cards, and the rise has been sharper than for auto loan debt. Auto loan delinquency has appeared to moderate over recent quarters ...
A recent LendingTree study found that 61.2% of Gen Xers in the 100 largest U.S. metros currently carry auto loan debt, the median balance of which is $23,260. The generation with the next-highest ...
Personal loan balances grew 6.3% to $19,402 in 2023 as more consumers made the decision to consolidate higher variable-rate debt into lower fixed-rate loans. Auto loan balances grew 5.2% in 2023 ...
The borrower then pays off the financial institution the same as for a direct loan. [citation needed] Typically, the indirect auto lender will set an interest rate, known as the "buy rate". The auto dealer then adds a markup to that rate, and presents the result to the customer as the "contract rate".
An estimated 48% of baby boomers have auto loans, according to a recent LendingTree study on debt in America’s largest 100 metropolitan areas. For boomers who still owe money on their cars, the ...
These include forms of debt such as credit card debt, medical debt, auto loan debt, promissory note debt and private student loan debt. ... 10 years Private student loan debt: 10 years State tax ...