During the holiday season of 2012, which in the final quarter of the fiscal year is marked by consumer cutbacks, saw fewer Americans behind on their car payments. This signifies that the rate for late-payments of car loans has dropped; record lows for the annual level.
For some reason auto owners are taking their auto loans more seriously, putting them at the top of their priority in their budgets even when things get tight.
As consumers replace their older automobiles, a million more units are anticipated to be sold. Last year U.S. auto sales increased by 13.5%, to 14.5 million.
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