Even with low auto finance rates, some consumers get over their heads in car debt. Here are some tips on how to avoid this situation.
The Dangers of Longer-Term Loans
On their quest for low auto finance rates, some consumers are lured into the trap of excessively long-term car loans. Some loans can have terms as long as 72 months, which will cost you an arm and a leg in interest expense. Most experts advise keeping your loan terms within 36 months. Here is why: