WalletHub study finds San Antonio overspends on cars

SAN ANTONIO – (KTSA News) – The personal finance website WalletHub has done a study to find out which large American cities overspend when it comes to cars.

The study was based on car loan debt as a share of annual income. Turns out, San Antonio is a top auto over spender coming in at number 2 on the list. El Paso ranks number 1.

The median income in San Antonio is $37,286.

Compare that to the median auto-loan balance of $17,766. That puts the debt to income ratio at 48%.

Consumers having taken out another $27 billion in auto loan debt in the third quarter of 2018 alone.

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