Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Whats the average length of a car loan?

April 26, 2017average car loan LENGTH

0

Posted

Whats the average length of a car loan?

1 Answer

0

Posted

A. At Broadway Auto Credit Inc., we keep the length of the car loan as short as possible because people generally want to trade-in their vehicle after 2-3 years. Other auto financial institutions write loans for up to 6 years (72 months). Our average loan pays out in less than 2 years, allowing the buyer the option to trade-in the vehicle for a newer model sooner.