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.

 
Update
11

1 hour ago

Anti-UAW VW workers move to form own union

Aug 30 2014 2:03pm CDT | Source: Autoblog

Filed under: Volkswagen, UAW/Unions The struggle over unionization at the Volkswagen factory in Chattanooga, TN, continues to get more complicated. There's now a second union fighting to organize at the plant; although this one is staunchly against the actions of the United Auto Workers. At the same time, the UAW is still signing up voluntary members to its recently created Local 42 at the facilit ...
Source: Autoblog   Full article at: Autoblog
 

 
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10

8 hours ago

The Future Of Volt And Leaf, VW e-Golf Priced, Electric-Car Hamsters: The Week In Reverse

Aug 30 2014 7:00am CDT | Source: Hybrid SUV Reports

We look ahead to the next Volt and Leaf, get a first look at the only seven-passenger plug-in hybrid, and a price for the Volkswagen e-Golf. And guess who's using hamsters to market an electric car. It's The Week In Reverse for Friday, August 29, 2014, right here at Green ...
Source: Hybrid SUV Reports   Full article at: Hybrid SUV Reports
 

 
Update
9

20 hours ago

2015 Volkswagen Jetta First Drive: Incrementally Refreshed and Refined

Aug 29 2014 6:16pm CDT | Source: Car and Driver

Rowing through the gears of a 2015 Volkswagen Jetta S TDI’s six-speed manual transmission as we roll along the scenic two-laners of Virginia’s horse country, we marvel at the fact that we’re actually having fun. Y ...
Source: Car and Driver   Full article at: Car and Driver
 

 
Update
8

22 hours ago

The Return of the Thing — thanks to B.C. firm

Aug 29 2014 4:42pm CDT | Source: Driving Canada

Boutique autobuilder Intermeccanica is world renowned for producing incredible hand-built recreations of two of Porsche’s classic sports cars, the 1958 Porsche 356A Speedster and the 1959 356 Convertible D. But few are aware of the storied Vancouver firm’s other offering, the Intermeccanica TYP82 Kübelwagen. That’s largely due to the fact that it was previously only available to buyers in foreign markets. Intermeccanica has now received the go-ahead to produce this unique looking ...
Source: Driving Canada   Full article at: Driving Canada
 

 
Update
6

23 hours ago

2015 Volkswagen Eos Final Edition gets detailed & priced [video]

Aug 29 2014 4:00pm CDT | Source: World Car Fans

Following a preview earlier this year, Volkswagen has unveiled the 2015 Eos Fina ...
Source: World Car Fans   Full article at: World Car Fans
 

 
Update
5

1 day ago

Car Review: 2015 Volkswagen Jetta

Aug 29 2014 1:31pm CDT | Source: Driving Canada

Middleburg, VA — One of the most understated product launches in recent memory, that showcasing the mid-cycle freshening of Volkswagen’s Jetta sedan for 2015, instantly calls to mind the aphorism generally attributed to German-American architect Ludwig Mies van der Rohe: “God is in the details.” The story for the compact four-door is, notes VW Canada, one of “refinement.” Indeed, there are copious detail changes to this model — v ...
Source: Driving Canada   Full article at: Driving Canada
 

 
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4

1 day ago

Bentley Mulsanne Convertible

Aug 29 2014 1:00pm CDT | Source: Top Speed

It appears Bentley’s Mulsanne Convertible Concept is back on the drawing board. This comes after the project was killed by Bentley’s then-new CEO Wolfgang Schreiber back in 2012. Originally debuted to a small number of customers at the Concours d’Elegance a few months prior, the project went cold when Bentley’s former CEO Wolfgang Duerheimer left the company.With Duerheimer gone, Schreiber told journalists “we will not do that car,” saying there was “just regional dem ...
Source: Top Speed   Full article at: Top Speed
 

 
Update
3

1 day ago

2015 Volkswagen e-Golf First Drive: VW Gets Some Electric Feel

Aug 29 2014 12:36pm CDT | Source: Car and Driver

In case you’re keeping score, when we close the books on calendar-year 2014 there will be 13 distinct pure-electric automobiles for sale in the United States. And for the first time, one of them will be wearing the famil ...
Source: Car and Driver   Full article at: Car and Driver
 

 
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2

1 day ago

This Is The First Mk7 VW Jetta Only It Isn't A Jetta

Aug 29 2014 11:28am CDT | Source: Jalopnik

This is the first new Jetta built on the up-to-date MQB/Mk7 Golf platform. Only it isn't a Jetta. Leave it to VW China to make things h ...
Source: Jalopnik   Full article at: Jalopnik
 

 
Update
1

1 day ago

Volkswagen Lamando (aka NMC) launched at Chengdu Auto Show [video]

Aug 29 2014 4:00am CDT | Source: World Car Fans

Following yesterday's fully revealing spy shots, Volkswagen has introduced the Lamando at the Chengdu Auto Show in Chi ...
Source: World Car Fans   Full article at: World Car Fans
 

 

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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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