Loans with terms longer than 84 months see uptick
Share of 84-month loans rose 400bps YoY in Q1
The share of longer-term auto loans of 84-plus months is on the rise as consumers face tighter budgets and economic uncertainty. While middle-term loans, defined as between 60 and 78 months, make up most financing, the share of those terms may decline as longer loans offer lower monthly payments and short-term loans typically are tied […]
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