STUDY: New car buyers stretching out their car payments
A new study shows a record number of Americans are arranging their monthly car loan payments so they stretch over six years.
JD Power says more than 33% of retail auto loans taken out this February have a term length of six years or longer.
The previous record was set in September 2012, when 30.6% of new vehicle sales were loans of at least six years.
As the U.S. Auto Industry has rebounded over the last several years, analysts say consumers are increasingly looking for ways to buy more expensive vehicles,while still trying to keep their monthly payments as low as they can.