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Auto loan terms of new U.S. vehicles 2018-2020

Published by Statista Research Department, May 23, 2022
Between 2018 and 2020, car loans with longer loan terms became more popular than shorter term ones in the United States. In 2020, only 2.3 percent of new auto loans were taken out for a term less than 37 months, down from 4.1 percent two years previously. Longer term loans, such as those for at least 73 months, became more commonplace during the same period.

Distribution of auto loans of new vehicles with financing in the United States from 2018 to 2020, by loan term

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Car financing and leasing in the U.S.Personal savings in the U.S.Financial markets in the U.S.Commercial vehicles worldwideVehicles in use in the U.S.
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