AGAWAM, Mass. -- With many Americans buying cars with employee-discounts and other incentives in recent months, the percentage of those with car loans and leases costing less than $300 a month jumped to 45 percent, up from 32 percent last year, according to the Cambridge Consumer Credit Index.

The percentage of those with loans and leases costing between $300 and $500 dropped to 37 percent from 43 percent, while loans costing between $50 and $700 dropped to 10 percent from 17 percent in 2004.

As the size of car loan and lease payments dropped, the number of Americans feeling that car loans are a major burden preventing them from making major purchases dropped to 12 percent from 17 percent in 2004. Those feeling that car loans constitute a minor burden rose from 39 percent a year ago to 43 percent.

"The results of the Cambridge Consumer Index wildcard show that many Americans were able to buy cars in recent months because of the extremely attractive pricing and financing terms made available by the domestic carmakers, said Jordan Goodman, spokesman/financial analyst for Cambridge Consumer Credit Index. "This resulted in a sharp increase in the number of loans under $300 and a decrease in the level of burden that borrowers feel. This trend is unlikely to continue, though, because domestic carmakers have discontinued these incentive programs, and have seen their sales fall sharply as a result."