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Auto Loans In "Untested" Territory Blackstone Warns As Subprime ABS Sales Accelerate

Earlier this month, we gave readers a snapshot of the US auto market on the way to explaining why it was that car sales hit a 10-year high in May. To recap: Average loan term for new cars is now 67 months — a record. Average loan term for used cars is now 62 months — a record. Loans with terms from 74 to 84 months made up 30% of all new vehicle financing — a record. Loans with terms from 74 to 84 months made up 16% of all used vehicle financing — a record.
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