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Auto Loans in March Averaged 70.6 Months, the Longest Ever
www.caranddriver.com ^ | APR 3, 2020 | BY COLIN BERESFORD APR 3, 2020

Posted on 04/05/2020 12:40:11 PM PDT by RomanSoldier19

The average new-vehicle loan term in March was 70.6 months, the longest ever, according to a new research report. Loan lengths have been steadily climbing in recent years alongside the price of new vehicles. Average monthly payments also rose, hitting $573. In March 2019, average monthly payments were $553.

(Excerpt) Read more at caranddriver.com ...


TOPICS: News/Current Events
KEYWORDS: insanity
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To: wally_bert
My jeeps are further along.

I've got a 2002 Wrangler Sahara (that I bought new) with a rotted frame. Everything still works, and I'm kind of anchored to it.

I'm either 1) going to use it as a pull vehicle on my property, or 2) get the frame redone (~5000 bucks) and continue to drive it.

182,000 miles with the *original clutch*.
21 posted on 04/05/2020 1:59:58 PM PDT by farming pharmer
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To: Kickass Conservative

And have you seen articles about Cash for Clunkers coming back?

Auto makers need something, anything to get people buying new cars again. Unfortunately C for C is not it.


22 posted on 04/05/2020 2:02:10 PM PDT by Responsibility2nd (Click my screen name for an analysis on how HIllary wins next November.)
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To: RomanSoldier19

They are now offering 84 months, nothing down.

Anybody would be an idiot not to take that.


23 posted on 04/05/2020 2:06:08 PM PDT by VeniVidiVici (Gays can give blood but I can't)
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To: akalinin
frame redone (~5000 bucks)

Buy a nice little Hobart (or competitor) MIG for 500 bucks and learn to lay down a bead. It's not that hard, even old guys like me with bad eyes and a shaky hand can do it with some practice. You can have fun putting some reinforcement plates on that frame.

Just make sure to have some good fire extinguishers handy too, I learned that lesson on my Camaro, thankfully God had laid down 6 inches of snow the night before giving me the giant snowball extinguishing method.

24 posted on 04/05/2020 2:07:22 PM PDT by nascarnation
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To: Alberta's Child

Nope. Some are even offering additional Discounts and delayed Payments up to six Months with the 0% deals.

The Dealers are getting desperate. It’s a Buyer’s Market right now.

That being said, I’m still Contracted to pay MSRP for my new C8 Corvette. With the Factory Closure I am thinking they won’t even build the Hardtop Convertible I ordered until the 2021 Model Year.


25 posted on 04/05/2020 2:07:40 PM PDT by Kickass Conservative (THEY LIVE, and we're the only ones wearing the Sunglasses.)
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To: RomanSoldier19

With the cost of money, I’m guessing auto and home loan bargins will be many. I don’t need to refi my home, but I’ll likely get a new truck or SUV this summer.


26 posted on 04/05/2020 2:09:11 PM PDT by umgud
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To: Kickass Conservative

I bought a car a 7 years ago I am telling you I could NOT WAIT to get the damn car paid off, used to be you paid on a car for 3 years mine was 5 years I paid it off early BUT GEEZE a car is getting very close to what a mortgage used to be!!


27 posted on 04/05/2020 2:10:48 PM PDT by Trump Girl Kit Cat (Yosemite Sam raising hell)
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To: DoughtyOne

Car prices today ARE very similar to my first house price (50 grand).


28 posted on 04/05/2020 2:12:30 PM PDT by nascarnation
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To: Trump Girl Kit Cat

I understand.

To me it’s just a matter of paying Cash versus using Money that doesn’t cost me anything. Frees up my Cash to invest when the Market turns around.

Then again, I got Mrs. KC to go along with me ordering a new C8 Corvette. Not sure of she’ll go for me getting a new Pickup Truck too. #:^)


29 posted on 04/05/2020 2:22:18 PM PDT by Kickass Conservative (THEY LIVE, and we're the only ones wearing the Sunglasses.)
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To: akalinin

I’ve been picking at the CJ7 a lot lately.

As of now, it’s 75% ready to separate the chassis from springs and steering.

It isn’t a major rush. Budgets being what they are. It would be next month minimum before I could pull the trigger on that and maybe the tub. That’s all the big stuff left.

Powder coat estimates $500 for chassis. The tub I’ll just have to see after blasting. I’ll get charged a little extra to have them pick up and deliver. They have a flatbed truck.

The chassis seems straight to me. No signs of damage or welding.


30 posted on 04/05/2020 2:24:49 PM PDT by wally_bert (Spend like you were going to the electric chair!)
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To: isthisnickcool

It was the one set of wheels I always wanted growing up. Where I was raised, the rich person had a blazer or bronco.

K5 was a barn resident that wound up on a used car lot.


31 posted on 04/05/2020 2:26:10 PM PDT by wally_bert (Spend like you were going to the electric chair!)
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To: Kickass Conservative

If your toys keep you from having a wandering eye on other things if I were Mrs. KC I would be very happy your eyes were on fancy cars and not women!!


32 posted on 04/05/2020 2:33:49 PM PDT by Trump Girl Kit Cat (Yosemite Sam raising hell)
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To: Trump Girl Kit Cat

Always been a Car guy. It’s just one of my Vices. #;^)


33 posted on 04/05/2020 2:39:34 PM PDT by Kickass Conservative (THEY LIVE, and we're the only ones wearing the Sunglasses.)
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To: RomanSoldier19

In PA, the body of that vehicle would have evaporated before the payments ended.


34 posted on 04/05/2020 2:39:49 PM PDT by tomkat
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To: Trump Girl Kit Cat

I had a new C7 Corvette back in 2014. Since then I had a MBZ Convertible and now I have a Dodge Challenger.

I am adverse to having anything with more than two Doors, but a Crew Cab Pickup is tempting, especially since we moved to Rural MS last Year. They are growing on me.

The Family Joke is I change Cars the way other People change their Underwear. Really expensive Underwear.


35 posted on 04/05/2020 2:44:47 PM PDT by Kickass Conservative (THEY LIVE, and we're the only ones wearing the Sunglasses.)
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To: jttpwalsh
I just turned 62, hoping it is the last car i ever buy.

I hear ya.
Used to say, mostly in jest, that my '02 Dakota would probably outlive me.
For now we seem to be racing each other to the proverbial finish line.
The thing just 'fits' me about perfectly, so if takes $1K/yr from here on out it'll beat hell out of a new one for the ~46 million most of 'em cost these days.

36 posted on 04/05/2020 2:45:22 PM PDT by tomkat
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To: tomkat

how can this go on


37 posted on 04/05/2020 2:46:26 PM PDT by RomanSoldier19 (Game over, man! Game over! ; : rem ad triarios redisse is)
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To: Alberta's Child
If you take one of those 0% financing deals you’re usually giving up some kind of discount that you could negotiate for yourself if you paid cash for the vehicle.

Only a fool negotiates the financing BEFORE settling on the price of the vehicle. Car buying 101.

38 posted on 04/05/2020 2:47:08 PM PDT by central_va (I won't be reconstructed and I do not give a damn....)
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To: Kickass Conservative

Yeah — I hear ya!


39 posted on 04/05/2020 2:57:38 PM PDT by Alberta's Child ("And somewhere in the darkness ... the gambler, he broke even.")
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To: RomanSoldier19

3 years ago bought 2014 Sentra 34000 miles for 65 c notes simple life which is why I play golf at country club every day


40 posted on 04/05/2020 3:08:50 PM PDT by genghis
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