11 Updates
Buyers Are Purchasing Longer Term Car Loans

Buyers Are Purchasing Longer Term Car Loans

Jul 26 2013, 12:00pm CDT | by

Loan terms of six years or longer are becoming common

According to a recent JD Power survey, the standard length of car loans is on the increase. The survey shows that loans of six years or longer now account for 30% of all new car deals this year....

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1 year ago

Buyers Are Purchasing Longer Term Car Loans

Jul 26 2013, 12:00pm CDT | by

Loan terms of six years or longer are becoming common

According to a recent JD Power survey, the standard length of car loans is on the increase. The survey shows that loans of six years or longer now account for 30% of all new car deals this year. Some buyers have been purchasing cars with loans of up to 72 months with longer-term offset by lower interest rate.

For instance, some Volkswagen buyers been able to get loans of 72 months with 2.64% interest. While 72 months sounds like a long time for car loan, according to JD Power some car buyers are taking out loans of eight to even 10 years.

With 30% of people now taking loans of six years or longer, the number is up 23% from five years ago. The standard length of the car loan was once four years and then crept up to five years. Extended term loans are gaining popularity as cars last longer and have better warranties. Longer-term loans at low interest rates may be good for buyers who plan on keeping the vehicle for a long time. Buyers who offer these longer-term loans and then try to trade within a few years will certainly see the downside.

 
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2 hours ago

LeMons South Day 1: Supra Leads, Frontenac and Fuego In Many Pieces

Sep 20 2014 10:50pm CDT | Source: Car and Driver

After the parade through a once-wholesome South Carolina town and subsequent car inspections on Friday, the racing began on Saturday morning. As the day progressed, we saw a mix of the expected and unexpected; here’s how it went. First, the expected stuff: The one-of-60-built 1960 Ford Frontenac coupe of NSF Racing failed to be ready in time to catch the green flag, but then roared onto the track and looked great. Then it suffered ...
Source: Car and Driver   Full article at: Car and Driver
 

 
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10

11 hours ago

Fiat Chrysler interested in Piaggio; Mahindra considering Peugeot Motorcycles?

Sep 20 2014 2:07pm CDT | Source: Autoblog

Filed under: Chrysler, Motorcycle, Rumormill, MISC, Fiat We're not yet ready to call it a trend, but rumors have been flying that a couple more major automakers have set their sights on motorcycle manufacturers to add to their portfolios. If they do, they'll be following in the footsteps of the Volkswagen Group, which gobbled up Ducati and put it under the Audi brand in its ever-growing stable of nameplates. Acc ...
Source: Autoblog   Full article at: Autoblog
 

 
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8

20 hours ago

A 1983 Golf 2 completely covered in pop-corn

Sep 20 2014 5:30am CDT | Source: Top Speed

Lucas Danehnl, art student at the University of Braunschweig made ​​a real piece of art. For 1 year, he placed corn on the body of a compact Golf 2 then he used a blower to pop them ! Why a 1983 Golf ? The student explains that "it is a vehicle from my generation" and the popcorn refers to" joy and great memories with family and friends." No doubt his teachers have licked their lips after seeing this work.A 1983 Golf 2 completel ...
Source: Top Speed   Full article at: Top Speed
 

 
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6

1 day ago

What's The Fastest Beetle Ever?

Sep 19 2014 3:05pm CDT | Source: Jalopnik

Yesterday, we had a pretty spectacular video of the new VW Andretti Rallycross Beetle in tire-sacrificing action. In that article, Máté wisely called it the "fastest modern Beetle." I say "wise" because of the word "modern" in there. Because I don't think it's the fastest Beetle ever.Read more... ...
Source: Jalopnik   Full article at: Jalopnik
 

 
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5

1 day ago

Car Review: 2014 Volkswagen Beetle Convertible

Sep 19 2014 2:31pm CDT | Source: Driving Canada

Overview Alfresco motoring made fun Pros Perky performance, nimble handling, feel-good drive Cons Token rear seat, small trunk, minimalist cabin Value for money Good What would I change? More back seat room. At first blush, the 2014 Volkswagen Beetle looks like the model it supersedes. Look a little deeper and the differences are significant, if subtle, in nature. It now has a more dignified look with leaner proportions. This is particularly true of the convertible. I ...
Source: Driving Canada   Full article at: Driving Canada
 

 
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1 day ago

2015 Volkswagen Eos Final Edition Quick Take

Sep 19 2014 2:24pm CDT | Source: KBB

The list of power retractable hardtop convertibles with starting prices under $40,000 is very ...
Source: KBB   Full article at: KBB
 

 
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1 day ago

2015 Volkswagen Jetta Earns IIHS Top Safety Pick+

Sep 19 2014 12:55pm CDT | Source: autoMedia.com

Even though the 2015 Volkswagen Jetta hasn't gone through a full redesign, it still managed to climb to the Insurance Institute for Highway Safety's (IIHS) Top Safety Pick+ list. The new and improved ratings come thanks to a stronger body, bumping the Jetta up to the highest category that the Institute has to offer. The Jetta looks pretty much the same as it did for the previous model year, but engineers at Volkswagen have cleverly added hidden st ...
Source: autoMedia.com   Full article at: autoMedia.com
 

 
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1 day ago

Weekly Roundup: Most popular stories and new car reviews

Sep 19 2014 12:12pm CDT | Source: Driving Canada

Most popular stories: 1. Being a lot attendant is harder than it looks: Lorraine Sommerfeld learned that it’s not all fun and games working at a car dealership 2. Father-son team restore waterlogged classic Pontiac GTO: More than 20 years after waterlogged muscle car was pulled from a pasture, classic ’66 ride runs like new 3. SUV Review: 2015 Porsche Cayenne: The new Cayenne gets tweaks and upgrades, and it’s adjusting well to its new role in Porsche’s lineup No one’s goi ...
Source: Driving Canada   Full article at: Driving Canada
 

 
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1

1 day ago

30 world premieres confirmed for 2014 L.A. Auto Show

Sep 19 2014 9:20am CDT | Source: Driving Canada

As auto show season is about to kick off for another year, the organizers behind this year’s Los Angeles show say there are 30 worldwide debuts scheduled. That means half of the cars lined up for L.A. have never been seen before, while the other half are decidedly smaller, but equally important North American debuts. More than 60 per cent of them will be dedicated to luxury and performance cars. Of the premieres scheduled, Audi has the most lined up with eight debuts. Mercedes-Benz is b ...
Source: Driving Canada   Full article at: Driving Canada
 

 

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Shane is a self described car aficionado. He loves muscle cars, but also knows how green cars work. He has years of experience in testing cars and writes about cars with deeply felt emotions.

 

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