Longest car loan term – For those with scores of 500 or lower the average loan length climbs to just over 72 months. It used to be that the longest car loan you could get was for 60 months or five years.
But now the average new car loan is nearly 70 months with some lenders offering 84 month auto loans or longer.
Longest car loan term – In general car loans are structured to offer 12 month increments lasting somewhere between two and eight years. Those with bad credit tend to have longer loan terms on their new car loans than those with good or excellent credit according to the report. According to the experian credit bureau the average new car loan currently lasts about 69 months while the average used car loan spans about 65 months. Longest car loan term
About a third of new car loans and around. For new car buyers with credit scores of 781 to 850 the average new car loan term is nearly 67 months. In the final quarter of 2012 the average term of a new car note stretched out to 65 months the longest ever according to experian information solutions inc. Longest car loan term
Experian said that 17 of all new car. That being said you may only be able to get this kind of loan if you re looking for a larger sum or you re purchasing a new model. Meaning you ll find available loans of 24 36 48 60 72 84 and 96 months. Longest car loan term
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