Six-Year Auto Loans Carry Higher Costs and Higher Default Rates than Five-Year Auto Loans
Washington, D.C. –(ENEWSPF)—November 2, 2017
By: Consumer Financial Protection Bureau Communications
The Consumer Financial Protection Bureau (CFPB) today released a report on auto loan trends that found a sharp increase in riskier longer-term auto loans. According to the report, 42 percent of auto loans made in the last year carried a payback term of six years or more, compared…
