/ News, Other / US Auto And Education Loans Increased in November

US Auto And Education Loans Increased in November

Linked In Share
US Auto And Education Loans Increased in November

According to the Federal Reserve, US consumers’ borrowing for cars and school attending increased November, but remained cautious about using the credit cards.

Tuesday, January 8th, the Federal Reserve said that US consumers boosted their borrowing in November by $16 billion reaching a seasonably adjusted record of $2.77 trillion. Auto and student loan borrowing was up $15.2 billion, compared with $817 million for the category which measures credit cars debt. One can easily observe the sharp difference between borrowing gains, which illustrates a trend which started after the recession. In 2009 American citizens had $1.03 trillion in credit card debt, which by November 2012 decreased with 16.5%.

On the other hand, student and auto loan debts increased dramatically, with 22.8% more than in July 2008. This happened because many people who had lost their jobs have chosen to return to school to get training for new careers. The November data also shows that gains in auto sales have increased 13.4% last year surpassing 14 million vehicles for the first time in 5 years, mainly due to the Americans need to replace the vehicles destroyed by Hurricane Sandy.

by Ana Cezara Savin (my Google+) - Wednesday, January 9th, 2013 - filed under News, Other. Image credit: .
Linked In Share
Related Articles
auto loan credit card debt debts education loans


Discuss: US Auto And Education Loans Increased in November

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Alonso hit wall at 105kph – report
Alonso hit wall at 105kph – reportFeb.27 (GMM/Inautonews.com) Fernando Alonso struck the wall at 105 kilometres per hour last Sunday. That was the claim on ...
‘I’m completely fine’ says smiling Alonso
‘I’m completely fine’ says smiling AlonsoFeb.27 (GMM/Inautonews.com) Fernando Alonso on Friday declared himself "completely fine" after his Barcelona crash and four-day ...
Manor to appear on 2015 entry list on Friday
Manor to appear on 2015 entry list on FridayFeb.27 (GMM/Inautonews.com) Friday is another crucial day in the history of the reborn Marussia team. Now called Manor, the ...
Exclusive: Honda confirms NSX debut for Geneva, announces the rest of the lineup
Exclusive: Honda confirms NSX debut for Geneva, announces the rest of the lineupHonda has officially confirmed the European debut of the NSX supercar which will be made at the 2015 Geneva Motor Show and it has ...
Rolls-Royce SUV to be called the Cullinan
Rolls-Royce SUV to be called the CullinanThe Rolls-Royce SUV is getting closer and closer to the production line and according to a recent report, the model in question ...
Recall roundup: Cadillac ATS for power sunroof controls
Recall roundup: Cadillac ATS for power sunroof controlsGeneral Motors has issued yet another recall, this time for the Cadillac ATS, because of a problem discovered with the power ...
Scuderia Cameron Glickenhaus unveils the SCG 003S and SCG 003C
Scuderia Cameron Glickenhaus unveils the SCG 003S and SCG 003CThe brand new Scuderia Cameron Glickenhaus SCG 003S and SCG 003C have been unveiled recently by the car manufacturer. The brand ...
Bugatti Veyron Finale spotted
Bugatti Veyron Finale spottedThe first images with the Bugatti Veyron Finale, the last edition of the hypercar, have ended up on the web ahead of its public ...
Crashed Ferrari 458 Spider spotted
Crashed Ferrari 458 Spider spottedThe newest addition to the Car Crashes category is a white finished Ferrari 458 Spider which has been spotted recently in ...
US: Nissan committed to sales goal on added production capacity in South Korea, Japan
US: Nissan committed to sales goal on added production capacity in South Korea, JapanNissan Motor recently said its underlying goal – besides exceeding Japanese rival Honda – was to command 10 percent of the US ...
US: government approves incentives to auto industry whistle-blowers
US: government approves incentives to auto industry whistle-blowersA US Senate committee recently approved the legislation that would see the introduction of payments and awards to employees and ...
Lamborghini Aventador SV leaked in a brochure
Lamborghini Aventador SV leaked in a brochureNew leaked images with the Lamborghini Aventador SV have hit the web ahead of the supercar’s public debut scheduled for the ...
2015 Kia Carnival gets priced in Australia
2015 Kia Carnival gets priced in AustraliaKia has recently announced the official price list for the 2015 Carnival in Australia where the cheapest model can be yours from ...
Brazil: GM plant strike ends after union coerces the company to axe layoff plans
Brazil: GM plant strike ends after union coerces the company to axe layoff plansWorkers at a General Motors auto assembly facility in Brazil returned to work after a six-day standoff with the company after the ...
Lamborghini Gallardo gets crashed in Maryland
Lamborghini Gallardo gets crashed in MarylandA yellow example of the Lamborghini Gallardo has been crashed recently in Maryland after its driver lost control of the ...
Read more automotive news


2015 Geneva Motor Show Coverage

Scuderia Cameron Glickenhaus scg 003c 1
bugatti veyron finale 1
white ferrari 458 spider crash 1
lamborghini aventador sv leaked 1
ferrari 360 modena crash australia 1
rolls-royce suv 1
Audi S3 Cabrio by MTM tuning 1
FAB Design updated the Mercedes G55 and the G63 AMG 1
Hyundai-i20-Active-sketch 1
2016 peugeot partner 1
2016 smart fortwo brabus 1
Mercedes-AMG GT3 1

More automotive from inautonews
Honda has officially confirmed the European debut of the NSX supercar which will be made at the 2015 Geneva Motor Show and it has also confirmed the rest of the lineup present at the event. After being shown more than a month ago, at the 2015 NAIAS in Detroit, the brand new NSX is getting ready to ...
read more
Inautonews Editors Section
Test Drive: Ford Tourneo Courier 1.0 EcoBoost – Serenity
Test Drive: Ford Tourneo Courier 1.0 EcoBoost – SerenityFord has been battling losses for years in its Ford of Europe business, but judging by the model lineup of the second largest US automaker you would ...
Test Drive: Renault Megane GT Line Energy 1.2 TCe
Test Drive: Renault Megane GT Line Energy 1.2 TCe Besides the Megane GT Line diesel, tested here, Renault is also offering a petrol version of the model which is using the 1.2-liter turbo. But is ...
Test Drive: 2015 Aston Martin Vantage N430 Q – Brutal
Test Drive: 2015 Aston Martin Vantage N430 Q – Brutal Unveiled just last year during the 2014 Geneva Motor Show, the Aston Martin N430 is, according to the British automaker the most dramatic ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Recall roundup: Cadillac ATS for power sunroof controlsGeneral Motors has issued yet another recall, this time for the Cadillac ATS, because of a problem ... Recall roundup: Chrysler 200 vehiclesChrysler has recently issued a recall for the 200 vehicles because these may have a manufacturing ...
Safety Section