When the global pandemic paused new car production in early 2020, used supply went down and prices rose. The result, is that the average used car payment is now $413, though used car payments have been headed for the $400 mark for a while.
CarsDirect, via a report from Experian, outlines financing trends caused or exacerbated by the pandemic including record high averages for the amount financed and record long loan terms.
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