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Commerce Bank Entices Borrowers to Shorten Terms

entices carrot on stickDALLAS — Commerce Bank isn’t pulling back on its longest auto loan-term offering of 75 months, but it is “encouraging” deals at 60- and 48-month terms, as part of a larger effort to tighten overall credit requirements, said Robert Griffin, the company’s indirect lending manager.

To accomplish this, Commerce Bank is incentivizing consumers with lower interest rates on shorter-term loans, discouraging buyers with higher interest rates on longer-term loans, or — in some cases — doing both.

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