Auto Loans Getting Longer, Debt Load Getting Bigger

Monday, December 9th
The eight-year auto loan is now a thing for more American vehicle buyers.

Spreading out the payments over 96 months on a new car may be shocking to some, but it's part of the new reality.  

According to Bloomberg's Alex Tanzi, U-S residents now owe a collective $1.32 trillion in auto loan debt, up $50 billion from a year ago.