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Auto Loan Length??

Valued Contributor

Re: Auto Loan Length??

The biggest issue with both 72 & 84 month loans is that average vehicle depreciation puts you at 50% value at between 4 and 5 years out.  With both loans you are upside down for a minimum of 3 years to ~ 4.5.   This means you are locked in to your current loan, interest. and payments for 4-5 years, unless you save or inherit money.   With a shorter loan or money down you could maybe refinance in 2-3 years.  Just know you are making a 4-5 year commitment.

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Ficos : 830 / AAoA : 9 yrs / AoOA : 24 Yrs / AoYA : 0
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