Knowing that most car loans have a 60-72 month duration, we can assume that the majority of vehicles traded at the 3-year mark are not paid off. The level of equity in these loans directly affects consumer behavior and in large part determines when the vehicle will be traded for another new vehicle. The frequency, with which this very large group of consumers replaces their vehicles has a direct impact on new-vehicle sales velocity……
http://blindersoffllc.blogspot.com/2018/01/time-to-equity.html
