Quote:
Originally Posted by geko29
Mean loan term for a new car loan in 2023 is 69 months (nice). Mode (most common) term is 72 months, with 84 close behind. 73% of new car loans are more than 60 months. Shockingly, 80% of used car loans are greater than 60.
Sadly, it seems the norm is to buy way more car than one can afford.
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More like higher prices and inflation have made this the norm. Doesn't really help that prices have skyrocketed and that it's quite difficult to find anything of decent quality used for under $20k now.
https://gmauthority.com/blog/2023/05...nd-says-study/