quote: The standard length of car loans — once four years, then five — has been creeping up for some time. Extended terms are gaining traction in an era when cars last longer and have better warranties. Automakers have marketed the long loans aggressively, persuading some buyers to move up to pricier models they couldn’t otherwise afford. The median-priced new car now costs $28,555, according to Kelley Blue Book. “Someone who really has the budget for a Corolla figures if they extend the financing out, they can buy a Camry,” said James Lentz, chief executive of Toyota Motor Corp.’s North American division.
quote: If you think the automakers are just arbitrarily raising prices you're living in a dream world. Quite frankly, I'd be VERY surprised if that was your viewpoint.