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US car finance market looking positive

The American car finance market is apparently receiving a boost from more affordable deals during the third quarter of this year.

The American car finance market is apparently receiving a boost from more affordable deals during the third quarter of this year. According to the Comerica Bank’s Auto Affordability Index, the cost to buy a new car through car finance has decreased by $300 to $27,600 – which is a drop of 1.4 percent from the second quarter.

Dana Johnson, chief economist at Comerica Bank stated: "With the recovery slowing and confidence shaky, consumers bought somewhat less expensive cars on average in the third quarter, thereby contributing to the improvement in affordability.”

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