Stretching a loan to 72 or 84 months lowers the payment, but you pay more interest and can owe more than the car is worth for longer.
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- Look at total interest, not just the monthly payment
- A shorter loan usually has a lower rate too
- Owing more than the car is worth (being "upside down") makes it hard to sell or trade
- If you can only afford the payment over 84 months, consider a cheaper car
General educational information. Loan terms and fees vary. Thrifty Horizon isn't paid by any dealer, lender, insurer or warranty company.