The share of auto loans for used cars in the United States with terms of over 73 months has increased in 2020 and 2021. Therefore, car loans with longer loan terms became more popular for used vehicles than shorter term ones in the U.S. In 2021, only 11.6 percent of auto loans for used vehicles were taken out for a term of 48 months or less, down from 15.3 percent two years previously. Longer term loans, such as those for a term between 61 and 72 months were the most popular.
Distribution of auto loans for used vehicles in the United States from 2019 to 2021, by loan term
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Experian. (April 15, 2022). Distribution of auto loans for used vehicles in the United States from 2019 to 2021, by loan term [Graph]. In Statista. Retrieved December 03, 2024, from https://www.statista.com/statistics/453373/auto-loan-terms-for-used-vehicles-usa/
Experian. "Distribution of auto loans for used vehicles in the United States from 2019 to 2021, by loan term." Chart. April 15, 2022. Statista. Accessed December 03, 2024. https://www.statista.com/statistics/453373/auto-loan-terms-for-used-vehicles-usa/
Experian. (2022). Distribution of auto loans for used vehicles in the United States from 2019 to 2021, by loan term. Statista. Statista Inc.. Accessed: December 03, 2024. https://www.statista.com/statistics/453373/auto-loan-terms-for-used-vehicles-usa/
Experian. "Distribution of Auto Loans for Used Vehicles in The United States from 2019 to 2021, by Loan Term." Statista, Statista Inc., 15 Apr 2022, https://www.statista.com/statistics/453373/auto-loan-terms-for-used-vehicles-usa/
Experian, Distribution of auto loans for used vehicles in the United States from 2019 to 2021, by loan term Statista, https://www.statista.com/statistics/453373/auto-loan-terms-for-used-vehicles-usa/ (last visited December 03, 2024)
Distribution of auto loans for used vehicles in the United States from 2019 to 2021, by loan term [Graph], Experian, April 15, 2022. [Online]. Available: https://www.statista.com/statistics/453373/auto-loan-terms-for-used-vehicles-usa/
