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Auto Loans’ Share of U.S. Household Debt Climbs to Record

The loans now make up 9.3 percent of Americans’ obligations

U.S. auto debt swelled by $23 billion in the second quarter to a record high as drivers continued to finance expensive SUVs with costly new technology and safety features. Auto loans now make up 9.3 percent of Americans’ household debt loads, the category’s highest share in Federal Reserve Bank of New York data going back to 2003.

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