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Longer-term refis pushing effective auto finance terms past 90 months 

Lenders leaning into refinance to retain customers, increase performance

Truth Headlam

The total time consumers are in auto loans is lengthening as refinance picks up with terms longer than 65 months.  The effective term of loans reached 90.57 months, or just over 7.5 years, in the third quarter, according to Experian’s Q3 State of the Automotive Finance Market Report, released Dec. 4. An effective term is […]

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