Quote:
Originally Posted by Matt Monson
You highlight another problem. 72 month loan?  no credit arseclowns used to get 48 or 60 month loans. The rest of the world car loans were 2-3 years, sometimes 4. The idea of paying interest that long is beyond me. |
Last two cars - daily drivers - I bought new were 60 month loans. I usually lease, but when they’ll roll in the taxes into the total and give you 0.0% APR on 108% of the sales price there really isn’t much incentive to pay cash for anything.
If they’d offered 72 months I’d have taken that. Still only kept one of the cars 2 years and the other for 3, but wasn’t paying much for them.
It’s not the duration, it’s the APR that kills you.