Recently, Credit Union Leasing of America (CULA) released findings from its used vehicle loan snapshot, a survey of over 400 credit union professionals between April 4 and May 5, 2023, and the findings were clear and unambiguous: Credit unions are worried about over-extension on used vehicle loans. In fact, a stunning 64% cited over-extension on used loans as their biggest concern, followed by vehicle prices. According to the survey, 80% of respondents said that at least one in four used vehicle loans are now 72 to 84 months. What's more, of credit unions reporting that 84 months is their longest term, a majority said they make up 20% or more of their vehicle loan portfolio – and nearly a third said they make up over 40%. Other industry analysts are reporting the same theme: Experian's Q1 State of the Automotive Market Report showed that 30% of used loans are 73 to 84 months or more.