Auto Loans in March Averaged 70.6 Months, the Longest Ever

Auto Loans in March Averaged 70.6 Months, the Longest Ever

The average new-vehicle loan term in March was 70.6 months, the longest ever, according to a new research report. Loan lengths have been steadily climbing in recent years alongside the price of new vehicles. Average monthly payments also rose, hitting $573. In March 2019, average monthly payments were $553. Loan lengths for new-car purchases have […]