MarketWatch
Tesla buyers take out the longest auto loans
The COVID-19 pandemic has disrupted supply chains for just about every industry — and the auto industry was certainly not spared. A new survey from LendingTree found that loan lengths were getting shorter before the pandemic, hitting a low in November 2020, at 59.9 months on average, before shooting up to a three-year peak in July 2021 at 65.6 months. LendingTree analyzed more than more than 29,000 auto loans that closed on its platform between Oct. 12, 2018, and Oct. 12, 2021.
