The Cost and Demographics of Vehicle Acquisition

and on the total cost of the vehicle. On average, new-vehicle buyers made 54 monthly payments, used-vehicle buy-ers 43, and lessees 39. The most com-mon term for leasing was 3 years, and 50 percent of lessees chose that term. For new-vehicle purchasers, the most common term for financing was 5 years, and 55 percent of new-car purchasers chose ... ................
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