Quote:
Originally Posted by chmura
The longer term you go the more interest pay at the end of your loan. If someone has to get more than 60 months for a loan than they truly cannot really afford the car and should look at something more realistic IMO.
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A 7 year loan is roughly equal to a lease payment. If you plan to get out in say 5 years you can usually sell the car at a profit, pay off the loan and still have some left over for a nice down payment on the next car.
Though if buying the car I wouldn't want to exceed a 5-6 year term.