Photo: Carl Court/Getty Images

Loans for new and used cars hit a new record in the third quarter, as consumers continue to opt for cars with newer technology and higher price tags, Bloomberg reports.

Why it matters: Auto debt in the U.S. continues to grow and topped $1.32 trillion in the third quarter — up $50 billion from last year, Bloomberg notes. The number of 90-day car loan delinquencies also increased from 4.27% last year to 4.71%.

By the numbers, per Bloomberg: The average monthly payment for a new car or truck is $550.

  • The average term of car loans has elongated to 69.28 months.
  • Consumers with good credit now make up 51.24% of used car financing, which is the highest percentage in 10 years.

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Updated 1 min ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Chris Christie: Wear a mask "or you may regret it — as I did"
  2. Senate Democrats block vote on McConnell's targeted COVID relief bill
  3. Economy: Why the stimulus delay isn't a crisis (yet).
  4. Health: New York reports most COVID cases since MayStudies show drop in coronavirus death rate
  5. Education: San Francisco public schools likely won't reopen before the end of the year.
  6. World: Spain becomes first nation in Western Europe to exceed 1 million cases — France becomes the second
Updated 5 hours ago - Politics & Policy

U.S. officials: Iran and Russia aim to interfere in election

Iran and Russia have obtained voter registration information that can be used to undermine confidence in the U.S. election system, Director of National Intelligence John Ratcliffe announced at a press conference Wednesday evening.

Why it matters: The revelation comes roughly two weeks before Election Day. Ratcliffe said Iran has sent threatening emails to Democratic voters this week in states across the U.S. and spread videos claiming that people can vote more than once.

Updated 6 hours ago - Politics & Policy

Supreme Court blocks Alabama curbside voting measure

Photo: Mark Wilson/Getty Images

The Supreme Court on Wednesday evening blocked a lower court order that would have allowed voters to cast ballots curbside at Alabama polling places on Election Day.

Whit it matters: With less than two weeks until Election Day, the justices voted 5-3 to reinstate the curbside voting ban and overturn a lower court judge's ruling designed to protect people with disabilities during the coronavirus pandemic.