Quote:
Originally Posted by 2LEET4U
that makes no sense.... the reason for a 6-7 year loans are to make the monthly payments more affordable for people. If you cant afford a 4 yr loan, then go for the longer payment plan in order to reduce your monthly payment.
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Its the fact that the car's book value declines and the extra interest you have to pay. Yes, its more affordable on a monthly basis, but it ends up actually costing you much more in the end.