View Single Post
      12-22-2018, 08:27 PM   #9
c1pher
Primo Generalissimo
United_States
1451
Rep
2,287
Posts

Drives: Porsche Macan Turbo
Join Date: Jun 2009
Location: DC area

iTrader: (0)

Quote:
Originally Posted by jkoral View Post
Was shocked when I saw the following earlier this year:

The average loan term in the first quarter (of 2018) was 69.03 months. And 75% of new-car loans were 61 months or longer. 34% of new car loans were between 73-84 months.
The longer terms also mean that you are more likely to be upside down if you trade in before the loan is paid. Coupling that with the end of free money loans (lower than the inflation rate) and you will see people getting themselves into a lot of problems.