You Bought a Car. Here’s How to Quickly Pay Down Your Auto Loan.


Amid talk of a recession and record-high inflation, you’d think Americans would keep a close eye on auto-loan spending.

And you’d be wrong. 

New data from LendingTree shows the average U.S. monthly auto-loan payment stands at $644, up 11.8% from a year earlier.

Worse, loan payments for used-cars and lease arrangements are rising faster than regular auto payments, which were up 15% and 18%, respectively, Lending Tree reports.

With Auto-Loan Debt, Slow Means Trouble

Auto-loan borrowers who take their time repaying their vehicle debt are making a big mistake – over and above that rising monthly loan payment.





Read More: You Bought a Car. Here’s How to Quickly Pay Down Your Auto Loan.

2022-09-06 11:37:04

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