24/7 Customer Service (713) 488-4000
24/7 Customer Service: (713) 488-4000

Car Loans Hit $1 trillion for First Time Ever

Posted on by Defensive Driving | in Car Stuff, news

New Car Wallpapers (16)
For the first time in history, the total amount owed by American car owners has hit a total of $1 trillion, according to a new article from CNN Money.

According to the report, the loan balances total has been driven by strong car sales, rising car prices, and low interest rates on loans.

New car sales are also up nearly six percent so far this year, and the industry is in position to sell a record number of cars to American buyers this year.

People are also borrowing larger amounts, causing the total amount owed to rise by 11 percent on last year.

Looks like the automobile industry is going strong, and don’t expect Americans to stop buying cars anytime soon!

To read more about this report, head over to CNN.
Today is your last chance to enter our giveaway, and win a set of Bose earphones and a car bluetooth kit by liking us on Facebook!
Click here to find a course near you


Why DefensiveDriving.com
  • 15 Years in Business
  • Over 2 Million Customers Served
  • Highest Possible Better Business Bureau Rating
  • Award Winning Course