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- How Long Should a Car Loan Be? - Edmunds
The average annual percentage rate (APR) on new car loans in Q1 2025 was 7 1%, up from 6 8% in Q4 2024 and the same as it was in Q1 2024 In the face of economic pressure, many buyers are
- What Term Should Your Car Loan Be When Buying? - Autotrader
Quick Facts About Car Loans and Length of Financing The most common car loan terms are from 36 to 72 months ; The longer the loan term for a car, the more you will pay in interest for using the lender’s money, meaning you pay more for the vehicle overall ; For most of us, the main problem with short-term loans is the larger monthly payment ; A one-size-fits-all approach to the right car
- How Long Should You Finance A Car? – Forbes Advisor
Financing a car isn’t getting cheaper With average payments exceeding $500 per month, even for used cars, it’s no wonder that loan terms among most borrowers now average more than 60 months
- What is the Longest Car Loan Length? - RateGenius
The length of a car loan is the amount of time you have to pay off your loan in full Let’s say you finance a $25,000 new car at 6% interest and pay a $5,000 down payment; here’s how the numbers would look at different loan lengths: 36 months: Monthly payments: $608 Total loan interest: $1,904
- What’s the average car loan length? - Bankrate
On average, drivers financing a new vehicle had a car loan length of 68 63 months in the first quarter of 2025, while used borrowers had a term of 67 22 months, according to Experian’s State of
- Are 84-Month and Longer Auto Loans A Good or Bad Idea?
According to consumer credit reporting company Experian, the average auto loan term in the first quarter of 2025 was 68 63 months for new cars and 67 22 for used cars In that same time period
- What’s the Average Car Loan Length? - NerdWallet
Your car loan term is the length of time you have to repay the loan The average car loan term is close to six years, but a wide range of terms are available When getting a new or used car
- What’s the Average Length of a Car Loan? - Experian
Here’s the average length of a car loan for new and used cars, why longer-term loans are gaining popularity and how they can cost you more money At the same time, the percentage of new car loans with terms of 73 months or more dropped by 7 23%, from 31 09% in 2023 to 28 84% in 2024
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