The American love for the automobile doesn’t come cheap.
US car buyers now owe more money on their wheels than ever.
US consumers have car loans totaling more than one-trillion dollars.
Analysts attribute that to low interest rates and strong car sales despite rising prices.
Sales tracker “Autodata” says new car sales are up nearly six-percent so far this year.
As a result, the industry is on track to sell a record number of cars in the US.
The average payment hasn’t changed much over the last five years.
It’s now just under $400 per month.