Edmunds reports more than one in four Americans who secured an auto loan in the second quarter were underwater on their current vehicle, with a historically high average balance of $6,754. +
The latest quarterly report from Edmunds finds car buyers set new records for $1,000-plus monthly payments, 84-month terms and average amount financed, all on smaller down payments. +
Edmunds analysts fear a growing number of 84-month auto loans could indicate that new-vehicle buyers are stretching beyond their financial means. +
