A growing number of car buyers have loans worth more than their vehicles — and experts are worried about a surge of delinquencies

Tech Insider
Used cars sit in the sales lot of a used car dealership in California.
On average, the annual percentage interest rate on new vehicles was 6.5% in 2022 and 4.1% in 2021, while for used vehicles it was 10% in 2022 compared to 7.4% in 2021.

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Used cars are worth $313 billion more than when the pandemic started

Tech Insider

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