Chronicle olds: news that isn't new
A couple of weeks ago (on September 2, to be exact), the Dallas Morning News ran a story by Terry Box on a recent study by Experian on car loans:
Dallas motorists shoulder the highest monthly car and truck payments of those in any major U.S. market except Houston, according to a new study.
In a review of 3 million consumer profiles, Experian Consumer Direct found average vehicle payments of $441 in Houston and $424 in Dallas, compared with the national average of $383.
Dallas had the largest average loan amount – $26,521.
The study didn't try to determine reasons for the higher payments and loans in Texas' two largest metropolitan areas.
The Chronicle's Purva Patel chimed in with coverage of this matter of local interest a full two weeks later:
Not only are our cars big in Houston, so are our car payments.
Houstonians shell out more in average monthly car payments than any other city in the nation, according to a recent study by Experian Consumer Direct.
Drivers pay an average $441 a month in Houston, compared to the national average of $383 and a Texas average of $415.
Though Experian didn't set out to find out why we pay so much, people in the industry pointed to the city's lower credit scores, higher-than-average delinquency rates and appetite for pricier cars.
Readers can expect us to refer to "olds" (as opposed to news) in the Chronicle from time to time. This would be a prime example of the phenomenon.
Posted by Kevin Whited @ 09/20/04 09:33 PM | Print | Comments (0)
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