They may buy a car by taking out an auto loan in your name.
More people are paying off auto loans than taking out new ones.
An auto loan is a good example as you're generally making the same payment for 36, 48, or 60 months.
Auto loans had declined at a 4 percent annual rate in April.
But as with an auto loan, that interest is not deductible.
In recent years, it expanded into auto loans and credit cards, with bad results.
Detroit makes auto loans and the phone company offers a credit card.
There are two types of auto loans, direct and indirect.
Even though the number of people who have refinanced their auto loans is small, the potential audience seems to be huge.
In a nation without auto loans, trading down is a way to finance the purchase of a car.