Take it to the bank: U.S. auto loans hit 8-year high, from MarketWatch.
Show us the car facts? All right, here’s one. The number of new auto loans in January and February hit an eight-year high, another sign the U.S. economy continues to forge ahead despite plenty of bumps in the road.
The consumer-research company Equifax on Wednesday said loan requests jumped to $69.6 billion in the first two months of 2013.
Some 3.5 million auto loans were granted in January and February, also an eight-year high, Equifax said. Light trucks are especially high in demand because of a shortage of used vehicles and a recovery in the housing market. Many contractors and their workers use trucks in their line of work.