Used-car purchases drove an increase in automobile financing last year, but banks' share of the market dipped, a study has found.

An annual automobile finance study by the Consumer Bankers Association found that total outstanding automobile credit in the United States - not including leases - rose 11% last year to $354.3 billion from $319.7 billion in 1994. But the sale of new vehicles fell 2% to 15.1 million units during the same period.

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