Length of auto loan terms

AUTO FINANCE: MARKET TRENDS

of their credit products. The terms of the proposed loan (e.g., interest rate range, term length), are based on the consumer’s creditworthiness and the characteristics of the vehicle they are purchasing (e.g., new or used). When multiple lenders compete for a loan, the dealer often decides which offer is presented to the consumer.

November 5th,2019

Take Control of Debt—Term Loans

the relationship between the interest rate and the total interest paid when the loan term is the same. Display Slide 7: The finance charges rise when the interest rate rises if the loan term stays the same. 8. Display Slide 8. Use the table on the screen and the information below to discuss how length of the loan term affects the monthly payment.

November 5th,2019

Just The Facts Auto Loans

Auto Loan Rates page. Information is accurate as of 08/01/2019, and fees or services are subject to change. ... Save $100 a month or $200 Cash Back when you refinance your auto loan! Length of Loan/Terms : Varies : Flexible terms are available up to 84 months for some borrowers depending on credit and collateral.

November 5th,2019

Understanding automotive loan charge-off patterns can help ...

• Loans that are charged-off typically start with much higher loan-to-value ratios than industry averages Longer terms = higher charge-offs Longer term loans are growing in popularity. In Q4 2011, loans from 73 to 84 months in length grew by more than 40 percent compared with Q4 2010. While this will help

November 5th,2019

Take control of your auto loan

TAKE CONTROL OF YOUR AUTO LOAN SHOPPING FOR YOUR AUTO LOAN 7 Shopping for your auto loan You know your loan options. Now it's time to shop for your auto loan. Shopping for loans and trying to get the best rates and other terms, while complicated, is like other types of comparison shopping. Shopping ahead of time will get you ready for

November 5th,2019

AUTO FINANCE: MARKET TRENDS

of their credit products. The terms of the proposed loan (e.g., interest rate range, term length), are based on the consumer’s creditworthiness and the characteristics of the vehicle they are purchasing (e.g., new or used). When multiple lenders compete for a loan, the dealer often decides which offer is presented to the consumer.