"Longer Loan Terms on the Rise: A Growing Trend in the Auto Financing Market A recent report from Experian has shed light on a concerning trend in the auto financing industry. In the first quarter of the year, nearly 36% of new-vehicle loans and 32% of used-vehicle loans were longer than 72 months, a significant increase from previous years. This shift towards longer loan terms raises concerns about the financial stability of car buyers and the potential for increased debt. As the auto industry continues to navigate the challenges of a changing market, this trend is worth monitoring to see what it means for consumers and the broader economy."
Nearly 36 of new-vehicle loans and 32 percent of used-vehicle loans in the first quarter were longer than 72 months, Experian said.
