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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11

5 hours ago

UAW eyes bargaining rights at VW's Tenn. plant within a year

Oct 22 2014 7:38pm CDT | Source: Automotive News

The UAW hopes to be recognized as the exclusive bargaining agent for workers at Volkswagen's assembly plant in Chattanooga within a year, union President Dennis Williams sai ...
Source: Automotive News   Full article at: Automotive News
 

 
Update
10

5 hours ago

UAW eyes bargaining rights at VW's Tennessee plant within a year

Oct 22 2014 7:28pm CDT | Source: Automotive News

The UAW hopes to be recognized as the exclusive bargaining agent for workers at Volkswagen's assembly plant in Chattanooga within a year, union President D ...
Source: Automotive News   Full article at: Automotive News
 

 
Update
9

9 hours ago

Weave Come So Far: BMW, Audi, and German Consortium Developing Carbon Fiber That’s 90 Percent Cheaper

Oct 22 2014 3:33pm CDT | Source: Car and Driver

BMW and Audi want to cut carbon fiber production costs by up to 90 percent within six years—and they’re already halfway there. The two automakers, bolstered by funding from the German government and working with 86 other partners including Airbus and ZF, are part of a $102 million research consortium whose goal it is to make still-exotic carbon fiber more viable for mainstream manufacturing. By 2020, the group, dubbed MAI Carbon, hopes Germany ...
Source: Car and Driver   Full article at: Car and Driver
 

 
Update
8

11 hours ago

Rolls-Royce, Lamborghini utilities await approval from German parents [w/poll]

Oct 22 2014 1:07pm CDT | Source: Autoblog

Filed under: Performance, SUV, Crossover, Lamborghini, Rolls-Royce, Luxury A cursory look at the top of the automobile market would suggest that the world's carmakers are gunning it full steam ahead into a new stratosphere of ultra-luxury and high-performance utility vehicles. After all, companies like Bentley and Maserati are preparing to launch their very first crossovers, while established players like Mercedes-Benz and Land Ro ...
Source: Autoblog   Full article at: Autoblog
 

 
Update
6

21 hours ago

Bugatti built the world’s fastest cars

Oct 22 2014 3:31am CDT | Source: CarFab.com

The Bugatti Veyron is made of incredible numbers. What began as a mere idea deep within the Volkswagen Group grew to become the equivalent of the Concorde for the road. With its luxurious length of 4.47 m, the Veyron*) is a perfectly balanced combination of high-powered performance and sleek, racy design. Even at complete standstill, […] Related posts: Premiere of the Bugatti Grand Sport Vitesse at the Qatar Motor Show 2013 Bugatti Veyron Super Sport Sets Speed Record Ferrari ...
Source: CarFab.com   Full article at: CarFab.com
 

 
Update
5

23 hours ago

24 Hours of LeMons Michigan: The Winners!

Oct 22 2014 1:18am CDT | Source: Car and Driver

For our second 2014 LeMons race at GingerMan Raceway in South Haven, Michigan, we admired some of the greatest endurance-racin’ machines we’d ever seen on Friday, watched those machines duke it out in the rain on Saturday, and then watched the winners roar (or clatter, or coast) across the finish line on Sunday. Here are the trophy winners from the 2014 Where the Elite Meet To Cheat 24 Hours of LeMons. For the first seven se ...
Source: Car and Driver   Full article at: Car and Driver
 

 
Update
4

1 day ago

2015 Volkswagen Golf R SportWagen Spied: So Rad, So Off-Limits

Oct 21 2014 4:43pm CDT | Source: Car and Driver

What It Is: This is an easy one, as far as our daily routine of identifying future products goes, because no effort has been made whatsoever to obscure the car: It’s a Volkswagen Golf R SportWagen circling the Nürburgring. It’s quite obviously a Euro-market model, as VW has only shown us Americans the SportWagen in “concept” form at this year’s New York auto show. The basic Wagen’s U.S. arrival is inevitable, though, and you can read our drive of the Euro version fo ...
Source: Car and Driver   Full article at: Car and Driver
 

 
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3

1 day ago

Volkswagen Passat review

Oct 21 2014 11:34am CDT | Source: Recombu

Andy Goodwin reviews the new 2015 Volkswagen Passat, a more powerful, more economical and roomier proposition than its predecessor. With the arrival of the all-new Volkswagen Passat,… Read docu ...
Source: Recombu   Full article at: Recombu
 

 
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2

1 day ago

2018 VW Touareg, BMW 1-Series DTM Sport Edition, Silent-Running LaFerrari: Car News Headlines

Oct 21 2014 10:00am CDT | Source: Motor Authority

One of the first test mules for Volkswagen’s third-generation Touareg has been spotted. The new SUV is expected on the market in the second half of 2017, as a 2018 model, and will once again be twinned by Porsche’s Cayenne. Following on the heels of yesterday’s M4 DTM Champion Edition special edition coupe ...
Source: Motor Authority   Full article at: Motor Authority
 

 
Update
1

1 day ago

Two new Passats stolen directly from Volkswagen

Oct 21 2014 10:00am CDT | Source: World Car Fans

The 2015 Volkswagen Passat has been garnering a lot of attention ever since it was introduced earlier this year and it appears thieves couldn't resist taking a closer ...
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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