> any monthly payment can be made with the right down payment. Or by stretching out the payment period to 60, 72, 84, … months. > The average loan term for a

> any monthly payment can be made with the right down payment. Or by stretching out the payment period to 60, 72, 84, … months. > The average loan term for a new car also hit a record high of 70.6 months in March [2020]. The most common term currently is for 72 months, with an 84-month loan not too far behind. In fact, nearly 70% of new car loans in the first quarter of 2020 were longer than 60 months — an increase of about 29 percentage points in a decade. * https://www.edmunds.com/car-loan/how-long-should-my-car-loan-be.html https://www.edmunds.com/car-loan/how-long-should-my-car-loan...