Part 1/12:

The Rising Trend of Car Financing and Repossessions: A Deep Dive into American Auto Debt

Extending Car Loans: A Growing but Risky Trend

In recent years, more American car buyers are choosing to stretch out their auto loans over longer periods—60, 72, 84, and even 96 months. A recent discussion revealed that many consumers are opting for loans of 84 months or more, effectively committing to payments spanning seven years or beyond. Such extended loan terms can make monthly payments more affordable on the surface, but they come with significant trade-offs, especially if economic conditions worsen or personal finances falter.