. Author manuscript; available in PMC: 2020 Aug 1.

Published in final edited form as: J Money Credit Bank. 2019 Jan 17;51(5):1403–1426. doi: 10.1111/jmcb.12595

Table 1.

Percent of Cars Purchased with Each Source of Funds

	New cars			Used cars
Funded with:	Michigan Survey	SCF	CE	Michigan Survey	SCF	CE

Home equity	1	2.3	0.9	2.6	1.6	0.6
Auto loan	72	69	75	53	40	44
Cash/other	27	28	24	44	58	56
Memo:
N	830	1,864	14,385	1,062	2,118	36,718

Notes: Table excludes leases. Estimates from the Michigan Survey are based on data from 2003 to 2014. Estimates from the SCF are based on data from 2004, 2007, 2010, and 2013. Estimates from the CE are based on data from 1997 to 2012. Figures in the table are calculated with sample weights provided by each survey.