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Finance Insurance

Lenders differ on 84-month loans

Executives from some of the largest U.S. auto lenders debate the viability of 84-month car loans. From left, Ian Anderson of Westlake Financial Services, GM Financial’s Kyle Birch, Charles Bradley of Consumer Portfolio Services and Huntington Auto Finance’s Rich Porrello.
Executives from some of the largest U.S. auto lenders debate the viability of 84-month car loans. From left, Ian Anderson of Westlake Financial Services, GM Financial’s Kyle Birch, Charles Bradley of Consumer Portfolio Services and Huntington Auto Finance’s Rich Porrello. (JACKIE CHARNIGA)
JC
By:
Jackie Charniga
December 07, 2019 05:00 AM

Doomsayers are bemoaning a spike in seven-year car loans, predicting dire consequences for lenders and the national economy from trapping consumers in auto debt for so long. A recent Wall Street Journal article gave added prominence to those fears.

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