The average car loan term is 68.48 months for a new car and 67.41 months for a used car, or close to six years, according to Experian data. The average length of auto loans for new and used vehicles ...

While the majority of drivers still finance their vehicle with a loan, a share of drivers in the U.S. choose to lease. Leasing can have a few advantages over buying, such as more manageable payments ...