More new car buyers have appealed to 84-month credit financing terms

More car buyers have used seven-year loans to finance new vehicles in the first quarter because Recently published report.

Edmundlar said last week that in the first three months of 2025, 19.8% of the financing of new transport.

The ratio of three-year loans New vehicles According to the report in the first quarter, he jumped four percent during the year. Compared to the first three months of 2019, the financing of such new vehicles increased by 6.4 percent.

Edmunds also noted that 19.8% of Q1 noted that “always high” for 84-month loans in new vehicles.

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“The auto market showed signs of sustainability in Q1, but this stability does not mean improving the improvement,” Edmunds Caldwell, head of the press release. “When the 5th car recipient is in one of the seven-year loans, how much consumers are when still extends in financially. In relatively flat-catching proportions, long-term monthly payments to prolonged prolongation, it turned out to be the challenging of car purchases. ”

In the first quarter, 10.2% of the financing of new vehicles, agreed to loans for four years or less, “Edmunds,” Good qualified buyers “concerned” in short conditions “.

In the first quarter, the report observes a year of financing loans for financing new vehicles in the first quarter in the first quarter, “shorten or shorten or shorten or shorten or shorten or shorten or shorten or shorten credit terms.” Their share went from 69.7% to 67.4% in the first quarter of 2024.

The average loan term for new cars is 69.5 months, in the first quarter for Edmunds, new car buyers, for a month for a monthly payment for payment of $ 741 per month. In addition, the annual interest rate of the average vehicle was 7.1%.

In the first quarter, for about 17.7% of new car buyers, they faced $ 1,000 worth of $ 1,000.

Caldwell will add fuel for car buyers “Auto tariffs for car buyers” car recipients for car buyers “Auto tariffs” for car buyers, “said fuel recipes.”

President Donald Trump Tariffs were announced in certain key auto parts at the end of the last month of passenger vehicles, light trucks and last month. On April 3, April 3, the target vehicles and trucks, Edmunds reported the report.

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Some economists and financial analysts said Trump’s vehicle and car parts can push prices vehicles by thousands of dollars.

When opening automatic tariffs in late March, Trump said that people wanted to do so because of the taxes of auto loan payments to American-made vehicles. During the joint address of the congress, he also noted such a proposal in the beginning of this month.

Accordingly, according to CalDwell, “consumers can provide general interest in general interest, especially in a new vehicle that can be used in another way to landscaping or vacation.”

“However, this is a large number of unanswered questions, which will be implemented and how it will be implemented and who will be exercised.” “Till these details are clarified, it is difficult to measure how much a policy like this can affect the market.”

According to Edmunds, Americans financed Americans, which are above $ 9231 in the first quarter.

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The car shopping guide has predetermined the sale of only 3.8 million new vehicles in the first quarter in the late March.

Cox Automotive said that the initial assessment for the average operating price of new vehicles on Monday was $ 47,448 in March.