@Anonymous wrote:
Wow, I can't imagine financing an auto over 10 years.
PSECU also has auto equity loans (finance an auto you own/have title to)
I cannot believe that there would be a single financial advisor whom would recommend a car loan of that term to anyone who reads these boards.
However, I could envision someone whom was interested in a Bugatti Veyron (1.7 million dollars) or maybe a Lamborghini Revention (1.6 million dollars) that might take them up on such an offer! Or possibly a classic car collector because those cars can easily appreciate more than 7.24% per year.
On the other hand, one whom could afford such extravagance does not need a 10 year loan to buy it and would find the payments a nuisance more than anything else!
Sounds like a sucker loan to me the more I think about it.
Message Edited by plasticman on 08-25-2009 09:29 PM
