Connect with us

News

Americans Owe N400Trillion In Car Loans

AutoJosh

Published

on

In Nigeria, you can only get a car loan if you are a banker, high net-worth individual or you have a well paid job/business.. However, the case is different in USA where every Tom, Dick and Harry can access car loans even with poor credit ratings. 

It has now been revealed that Americans owe a record $1.1 trillion in car loans.. This is an astronomical N400 Trillion. 

In a bid to reduce monthly expenses and monthly loan repayments, many Americans go for longer term car loans.. Automotive News said.





Therefore, several people opt for longer term car loans which can range from 5 to 8 years. 

Many Nigerians have argued for and against car loans.. Tell us where you stand in the comment section.. Do you want easy access to car loans or not?

Don’t forget to like, rate and share. Also follow us on Facebook and sign up for our newsletters. 

See Related Post Would You Buy This 2018 Toyota Century Car For N55 Million?

Download Our Android App Today… https://play.google.com/store/apps/details?id=com.donald.autojosh&hl=en

Check import duty for over 5,000 cars in Nigeria.. https://autojosh.com/import-duty/





If you think about cars, think AutoJosh. Ask us any car related question in our forum section and you will get a response ASAP. Check Nigeria custom import duty for 5,300 cars only on AutoJosh. Real-time automobile news, articles, driving tips and many more. ...Your mobility, our priority.

Advertisement
2 Comments

2 Comments

  1. Dapson

    October 10, 2017 at 11:15

    Americans Owe N400Trillion In Car Loans…..dts huge

    • AutoJosh

      AutoJosh

      October 22, 2017 at 10:10

      That loan has made and marred many.

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending