Transportation

High-tech cars drive auto loans to record highs in the U.S.

Cars lined up at a dealership
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%.

What we're driving: 2020 Acura MDX

2020 Acura MDX A-Spec. Photo courtesy of Acura
2020 Acura MDX A-Spec. Photo courtesy of Acura

Over the Thanksgiving holiday, the family took a road trip from Detroit to Toronto in the 2020 Acura MDX.

The big picture: The MDX is the best-selling three-row luxury SUV in America and it's easy to see why. Starting at $45,395, it's comfortable and has a premium feel, without being ostentatious or over-engineered.