Auto loan approved.

Consumers paid more money for longer periods at higher interest rates on cars they financed in 2017 than they did a year earlier, according to Experian’s latest report.

Experian’s “State of the Automotive Finance Market” report released Thursday showed credit unions’ share of U.S. car loans reached 27.7% by year’s end, up from 25.8% in 2016 and 24.4% in 2015.

Jim DuPlessis

A journalist for decades.

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