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73-84-month loans on new and used vehicles increase YoY in Q1 2022

New vehicle loan terms between 73 and 84 months grew 2.35 percentage points YoY to 35.1%

Whitney McDonald

The share of longer-term loans on new and used vehicles increased year over year in the first quarter of 2022, as average vehicle transaction prices tick up amid ongoing supply chain issues and consumers looked to decrease their monthly payments. New-vehicle loans with terms of 73 to 84 months grew to 35.1%, up 2.4 percentage […]

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