According to TransUnion, Americans owe more than a trillion dollars in car loans.
Analysts say it's a good thing, claiming low interest rates and strong consumer confidence led us to this. Auto sales just this year are up 6%, according to auto data.
Thankfully, though, car payments haven't gone up much over the last five years. They're still just below 400 dollars, on average. The number of folks missing payments for two months or more has remained the same as last year-- about 1.16%.
Car prices may vary greatly, but revving a new engine and paying your loan on time -- that's priceless!