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Auto Loan Terms

Payment Gap Between New and Used Hits All-Time High in Q2, Experian Reports

The rise in new-vehicle prices continued in the second quarter, with more consumers turning toward the used market and leasing. Loan terms also continued to stretch.

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Used-Car Prices Hit Record High in Second Quarter, Edmunds Reports

Shoppers were increasingly drawn to “near-new” used vehicles with higher price tags in the second quarter, with the average price of a used car increasing 8% from last year, according to Edmunds.

Nothing to Fear

Delinquencies remained in check despite total outstanding auto loan balances rising to an all-time high, signaling a healthy automotive credit climate.

Federal Agency Says Stretching Terms a Concern

The Office of the Comptroller of the Currency said in its semiannual report that stretching terms and higher advances are a concern. The agency said it will continue to monitor the market and will take action when warranted.

Auto Loan Terms Reach All-Time Highs, Experian Reports

The average loan term for new and used vehicles has increased by one month, reaching new all-time highs of 67 and 62 months, respectively, according to a new report from Experian.

Experian: Average Loan Terms Stretch to Record High

Loan terms in the first quarter 2014 stretched to their highest level since the company began publicly reporting the data in 2006.

J.D. Power: Leasing, Long-Term Loans Reach New Highs in February

Terms are stretching, but the firm believes record lease penetration should maintain a healthy supply of future vehicle buyers with shorter purchase cycles.

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