"The average monthly car payment in the fourth quarter rose above $500 for the first time" That's frightening. And if anyone is wondering about the duration,

"The average monthly car payment in the fourth quarter rose above $500 for the first time" That's frightening. And if anyone is wondering about the duration, "Average term for an auto loan: 68 months — this is the longest average term ever seen by Experian." http://www.cnbc.com/2016/06/02/us-borrowers-are-paying-more-and-for-longer-on-their-auto-loans.html http://www.cnbc.com/2016/06/02/us-borrowers-are-paying-more-... No wonder people are driving their cars for 12 years+ now. They can't afford not to.