question of the day whats keeping you from buying a new carEveryone loves a new car, but not everyone loves to pay for one. With that in mind, lenders have made it easier to finance a new car, truck, or crossover than at any point since November 2015.question of the day whats keeping you from buying a new carAccording to Cox Automotive's Dealertrack Credit Availability Index, it was easier to qualify for an auto loan in July than at any point in more than a decade. Lenders approved 74 percent of loan applications, apparently celebrating Independence Day by stamping "approved" on loan apps.The average loan featured a 10.9 percent interest rate, which is slightly lower than it was in June. Additionally, the average downpayment was just 13 percent, which is the lowest figure since October 2022. Loans with longer than normal terms, such as 72-month and 84-month loans, comprised 31.1 percent of new loans, which was steady with last month and reflects that buyers are shopping for a monthly payment, not the price of the vehicle.AdvertisementAdvertisementSo if they're giving away credit and you are still hesitant about buying a new vehicle right now, is it the price of the car or the price of the loan that that is scaring you off? [Image: Toyota, Ford]Become a TTAC insider. Get the latest news, features, TTAC takes, and everything else that gets to the truth about cars first by subscribing to our newsletter.