Letter From The UK

According to the most recent State of the Automotive Finance Market report, the total balance of open automotive loans increased 11.1% in Q1 2016, reaching $1.005 trillion – up from $905 billion in Q1 2015. This is the first time on record that automotive loans have passed the $1 trillion mark. The report also revealed that subprime loan volumes experienced double-digit growth. Source: Experian

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