Inform Me Just How Long Should My Car Finance Be?

Inform Me Just How Long Should My Car Finance Be?

Everything You’ll Discover In This Essay

It pays to put as much thought into the length of your financing as you do colors and miles per gallon when it comes to decisions on buying your next car or truck.

The longer the loan, the low the re re payment. That will seem like a deal before you accumulate the full total payments you will make the term over associated with loan.

As an example, look the way the true figures build up on a hypothetical $25,000 loan at 4.5% APR:

Term month-to-month Payment Total Cost
48 months $570.09 $27,364.32
60 months $466.08 $27,964.80
72 months $396.85 $28,573.20

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