Maybe a five-year car loan is just about right, given the economic climate.
Consumers are holding on to new vehicles, on average, for 63.9 months, according to second-quarter data from Polk. That's up 4.5 months from a year earlier and 7.2 months from two years earlier.
Used-car buyers are holding on to vehicles an average of 46.1 months.
As owners keep vehicles beyond the expiration of the warranties, it means more opportunities for service and parts sales by dealerships. But it also contributes to a scarcity of late-model used cars, until the market catches up with the cycle.
The average length of new-vehicle ownership rose 4 percent a year before the economic turmoil that began in late 2008. Since then the average has jumped more than 14 percent annually.
