Even as some experts predict new car sales could top 16 million in 2014, there could be a storm brewing for maintaining current sales and inventory levels. According to Automotive News, consumers are buying new cars because it's easier to get a loan – even if that loan is for longer terms and to buyers with subprime credit – which, surprisingly, is considered anything above a 680 credit score. We already knew that buyers are opting for longer loan terms – up to 10 years. – but AN says that on average loans are for 65 months (or almost five and a half years).
Autoblog , Average new car loan stretches 5.4 years, so what does that mean?, Average new car loan stretches 5.4 years, so what does that mean?
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