In June, the total amount of money owed to finance companies (Consumers, Real Estate, Business) increased 17.7%. In the first quarter, the interest rate for new car loans was 6.4% with a maturity of 66 months financing $39,066. For used cars, 15.7% with 66 months financing at $23,537

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by Dismal-Jellyfish

www.federalreserve.gov/releases/g20/current/g20.pdf

  • In June 2023, the total outstanding amount owed was approximately $1,850.9 billion dollars–up 14.7% from May!
  • In the first quarter, the interest rate for new car loans was 6.4% with a maturity of 66 months financing $39,066. For used cars, 15.7% with 66 months financing at $23,537.
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Wut Mean?:

Folks and businesses are still taking on debt spending even though 66.1% of retail investors and 56.03% of institutional investors believe the probability of a catastrophic stock market crash in the U. S., like that of October 28, 1929 or October 19, 1987, in the next six months is above 10%.

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