#auto-loans

#auto-loans

Roughly one in four Americans are paying off auto debt, according to a report published Wednesday by the Century Foundation, a progressive think tank, and are overall on the hook for a record $1.68 trillion in car loans or outstanding payments. Those figures out auto loans on par with all outstanding federal student loan debt($1.69 trillion of federal debt and $1.84 trillion total) and ahead of credit card balances ($1.28 trillion outstanding as of last year).

Davine Greene, a nursing student, described her car as 'the bane of my existence' and called it 'probably the worst decision I've ever made, like, financially speaking.'