MinnEcon Indicator: Minnesotans boast high credit scores for car loans

Minnesota’s economy may be on the skids, but, hey, we’re looking good if we want to buy a car.

Minnesota, Connecticut, Wisconsin, Iowa and Massachusetts topped the list of states with the highest average credit score for new vehicle loans in the first three months of 2009, according to Experian Automotive, part of the Experian credit scoring company,

Minnesota, North Dakota and Wisconsin were among the top five for highest scores on used vehicle loan.

Whether anyone can afford cars is another issue. Nationally, the survey notes that the lousy economy and tougher lending criteria are driving up auto loans for used cars, which accounted for more than two-thirds of the loans made in the first quarter of the year.

Drop us a line and let us know if you’re spending money (or planning to) on a new or used car and what the experience has been like. Below you can find what others in our Public Insight Network have told us recently about how they’re spending money, or not.

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