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Car payments just hit a record $787 a month—and 1 in 4 new-car buyers is now signing a 7-year loan

Car payments just hit a record $787 a month—and 1 in 4 new-car buyers is now signing a 7-year loan

Feed excerpt — reported by Fortune

New-car payments, loan sizes and lifetime interest all set records last quarter, even with rates flat at 7%. Six-figure households are still buying. Everyone else is getting squeezed.

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