Those loans, they're getting awfully long. Experian Automotive says that in the first quarter of 2014, 24.9 percent of all new-car loans were 73 to 84 months long. Four years ago, less than 10 percent of loans were that long. In fact, such lengthy terms have pulled the average new-car loan to 66 months. That's an all-time record.
As credit continues to open up — and, some argue, automakers try to maintain the past year's sales growth — car loans continue to lengthen. But make sure you consider the terms carefully, because even if you can get a longer loan it doesn't mean you should.