New and used car buyers borrowed more but secured lower interest rates in the second quarter as competitive monthly payments helped hybrids gain market share. +
Dealertrack’s Credit Availability Index remained at 100 last month, reflecting offsetting indicators that include a lower approval rate and a growing share of subprime loans. +
Experian reports the average amount financed in a U.S. new vehicle transaction was $41,572 in the fourth quarter, a 2.6% increase, but with a slightly lower average monthly payment of $600. +
