The most common method of buying a car in the United States is borrowing money through a direct or indirect auto loan. A direct loan is arranged from the borrower to the lender directly, while an indirect loan is arranged through the car dealership the car was purchased at.
The Top 5 auto loan companies in the United States are Ally Bank, Wells Fargo, Chase, Capital One, and Toyota. According to the U.S. PIRG Education Fund and Frontier Group, Americans owe an estimated $1.2 trillion on auto loans.
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Many indicators continue to tell us the economy is very late in the cycle. The current economic expansion is now the second longest on record, surpassed only by the tech boom of the 1990s.