Editor's note: This article first appeared on Insurance.com and is reprinted here with their permission. Click here for the original post.
Average new vehicle finance terms have been steadily rising over time.
Experian Automotive reports the average new-car loan lasts 66 months, with a loan balance topping $28,000. Seven-year loans aren't uncommon, and major lenders such as Ally Financial and Toyota's lending arm now make 84-month loans.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
