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Behind the Wheel with Phil Lebeau

Auto rates drop, buyers take on record loans

A sales associate, left, assists a customer with a Mercedes-Benz GL sports utility vehicle at a car dealership in Fort Lauderdale, Fla.
Mark Elias | Bloomberg | Getty Images

Following news of a strong Black Friday and better-than-expected November sales, a new report on the auto industry is showing signs of a strengthening consumer.

According to findings on auto financing from Experian, Americans took out a record number of auto loans in the third quarter, and interest rates slid to their lowest level in at least six years.

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