How many years are you going to be paying on that new car until its yours?
Thursday, February 21st, 2008Auto loans originated at dealerships for the past few months have shown a distinct increase in longer terms. According to JD Power 86% of new auto loans are for terms greater than 60 months. Are you finding more applications for longer terms requested coming in? What is your rate spread between 60 and 72 months? Does anyone do terms greater than 84 months. I hear that some credit unions now offer 96 month terms.