Latest Trend: Six Facts About Today's Post-Recession Car Loans

With consumers getting back into the swing of financing vehicles again and the financial institutions willingness to lend again, we've uncovered some interesting facts about today's car loans.

1. Consumers Have Returned to 'Car Mortgages' Again. Auto loans of 72 to 84 months account for 28% of today's loans, a 4% increase from 3 years ago. --- Experian and Wards (To peruse our 2008 Black Enterprise article related to Car Mortgages, click here.)
2. Some credit Unions are offering 96-month (8-year) car loans. Long-term loans also known as 'Car Mortgages' were basically frozen in 2008 and 2009 during the height of the recession. 
3. Car Payments Are A Priority Over Car Payments. Consumers juggling debt are making their car payments even if they're skipping mortgage or credit card payments, recent data show.
4. In 2011, 39% of consumers who were delinquent on their mortgage paid credit cards and auto loans in a timely manner. -- Trans Union
5. In 2011, 17% of consumers that were delinquent on their credit cards paid both the mortgage and auto loan on time. -- Trans Union
6. In 2011, 10% of consumers that were delinquent on auto loans were current on both the mortgage and credit cards. -- Trans Union.