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Benzinga
Benzinga
Business
Jamela Adam

A Record 22.4% Of New-Car Buyers Now Opt For 7-Year Auto Loans To Manage Monthly Payments

EA SPORTS Interest Rates
Back,View,Many,Modern,New,Multicolored,Suv,Cars,Fleet,Stock

Car prices aren't going down, and neither are interest rates. To afford a new car, many buyers are signing up for longer loans to make monthly payments feel more manageable.

Edmunds' Q2 2025 report shows a few unsettling new records in auto financing. 22.4% of shoppers financing a new vehicle chose an 84-month or longer loan term, up from 20.4% in Q1 2025 and just 17.6% a year earlier. 

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