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

6 hours ago

Volkswagen Lamando, Buick Envision, Labor Day Traffic: Today’s Car News

Sep 1 2014 10:00am CDT | Source: Motor Authority

Volkswagen unveiled what is essentially a Jetta CC at the 2014 Chengdu Auto Show. The new vehicle is called the Lamando and at present it’s only been confirmed for the Chinese market. Another vehicle unveiled in Chengdu is the Buick Envision crossover. This vehicle is expected in the U.S. and should arrive in time for the 2016 model year. If ...
Source: Motor Authority   Full article at: Motor Authority
 

 
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10

13 hours ago

Production Volkswagen New Midsize Coupe Is The Lamando

Sep 1 2014 2:30am CDT | Source: Motor Authority

At the 2014 Beijing Auto Show back in April, Volkswagen took the covers off a striking four-door coupe concept called the New Midsize Coupe. At the 2014 Chengdu Auto Show that took place last week, the German automaker introduced the production version, which dons the Lamando nameplate. The Lamando is similar in size ...
Source: Motor Authority   Full article at: Motor Authority
 

 
Update
9

1 day ago

Lamando is Chinese for VW Jetta CC [w/video]

Aug 31 2014 4:05pm CDT | Source: Autoblog

Filed under: Sedan, China, Videos, Volkswagen, Misc. Auto Shows Volkswagen is not messing around when it characterizes its new MQB architecture as modular. It's already underpinning the VW Golf, Audi A3, Seat Leon and Skoda Octavia, and will soon form the basis for many more. And here is the latest. Unveiled at the Chengdu Motor Show in China this weekend is the new Volkswagen Lamando, a four-door coupe similar in size to a Jetta ...
Source: Autoblog   Full article at: Autoblog
 

 
Update
8

1 day ago

Bentley to Unveil New Design Language on its Future SUV

Aug 31 2014 1:00pm CDT | Source: Top Speed

Bentleys introduction to the SUV world will come in the form of the Falcon. Due next year, Bentleys new flagship model, will be designed by Luc Donckerwolke, who has worked for the Volkswagen group for many years now and was the designer behind the Lamborghini Murcielago and Gallardo. His style usually utilizes sharp, crisp lines designed to reflect light. “I like really sharp, defined surfaces. If it’s too voluptuous, it ...
Source: Top Speed   Full article at: Top Speed
 

 
Update
6

1 day ago

Subaru and Volvo Aim for Modular Model Lineups

Aug 30 2014 10:50pm CDT | Source: autoMedia.com

Subaru and Volvo are both developing an efficient modular base for their vehicles, lowering production costs by putting different models on the same basic platform. Expect within the next several years to see new generations of cars built from a sole platform, following the trend set by Volkswagen's MQB platform. By around 2017, Subaru and Volvo will have rolled out their newest vehicles, which will be built on modular bases. Everything ...
Source: autoMedia.com   Full article at: autoMedia.com
 

 
Update
5

2 days 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 facility and is reportedly near having a majority ...
Source: Autoblog   Full article at: Autoblog
 

 
Update
4

2 days 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 Car Reports. This week at ...
Source: Hybrid SUV Reports   Full article at: Hybrid SUV Reports
 

 
Update
3

2 days 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. Yeah, fun. In a Jetta. READ MORE ›› ...
Source: Car and Driver   Full article at: Car and Driver
 

 
Update
2

2 days 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 ...
Source: Driving Canada   Full article at: Driving Canada
 

 
Update
1

3 days 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 Final Edi ...
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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