Recent data from Experian Automotive and Autodata Corp shed some light on trends in auto financing and sales. The average new car loan at the end of 2012 was $26,691, the highest it’s been since 2008. The average loan length was 65 months, a record high. The average interest rate for a new car loan was 4.36%, down from last year’s 4.52%. The lower rate on the higher loan amount resulted in an average monthly payment of $465, down from last year’s $468. New car sales, in the first 2 months of 2013, have increased about 8% from 2012.
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