It's not an Acura. It's not a Cadillac. Gail says, referring to her 1996 Ford Explorer. I love my No Payment. Needless to say, this is not a car for everyone.
Most people buy their cars with credit.
They borrow much of the purchase price and hope that the car is worth something when the loan is paid off. And it all adds up. These figures don't include the financing in automobile leases or the automobiles purchased via home equity lines of credit. So lets do some thought exercises and examine the number of cars in use, their age, and the amount of automobile credit outstanding. According to the Statistical Abstract of the United States there were 123.2 million automobiles in use in 1995.