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Experian analysts say buyers of pre-owned vehicles accounted for 55.15% of all U.S. auto loan originations in the third quarter, a 2.4% year-over-year increase.
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Wary of unmanageable monthly payments, the American car buyer’s attention is increasingly shifting toward used vehicles, leases, and longer terms as the cost to buy a new car or truck continues to climb.
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Things are still challenging for below-prime customers, but the middle tiers are beginning to show signs of life, Experian Automotive reveals.
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