Car Ownership and Maintenance

This living topic focuses on the challenges and considerations of owning and maintaining a car in today's economic and technological landscape. It covers the rising costs of car repairs due to supply chain issues, labor shortages, and sophisticated parts, and discusses the value of extended warranties and insurance. It also examines consumer experiences with used cars, including long-term ownership satisfaction and legal protections under Lemon Laws. Emerging trends like car subscriptions and the future impact of autonomous vehicles on car ownership are explored as well. Practical advice on regular maintenance and avoiding scams, such as odometer fraud, is also provided to help car owners make informed decisions.

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Long-term auto loans hit record as car buyers struggle with costs

One in five new-car buyers now opting for 7-year loans

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Key takeaways:

84-month auto loans hit a record 19.8% of new-car financing in Q1 2025

Affordability remains a top concern amid $1,000+ payments and high APRs

Experts warn tariffs and limited 0% deals could worsen affordability crisis

Nearly one in five Americans who bought a new car in the first quarter of 2025 committed to an 84-month loan — the longest common auto financing term — signaling growing financial strain in the car market, according to a new report by Edmunds.

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