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Dealer Ops

Auto Loans and Leases Up 1% in Q3

The Federal Reserve Bank of New York reports auto loan originations grew in Q3 despite a 7.4% decrease in loans to subprime borrowers. - Photo by Thomas B. via Pixabay

The Federal Reserve reports U.S. car buyers borrowed $159 billion in the third quarter, a modest gain powered by a 6% increase in originations to prime credit customers.