97 Month Car Loans? Per Yahoo.com

10 Apr 2013 07:48 #1 by FredHayek
:driving: They say new cars last longer than ever before, that is a good thing because now some people are financing 97 month long car payments.

Back when we were starting out, 72 month car loans were available, but rare and usually only used for luxury or high end diesel pickups, but now people ate taking out eight year loans to buy Toyota Camry's.

I guess this was bound to happen with wages being stagnant and new car prices continuing to rise.

Thomas Sowell: There are no solutions, just trade-offs.

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11 Apr 2013 10:43 #2 by bailey bud
I took out my first car loan 20 years ago, and was told by my dad - never go beyond 3 years.
(36 mos).

I took his advice - buying a long bed Ford Ranger XLT - 4 cyl, manual transmission truck.

I kept it for 6 years - and enjoyed 3 payment free years of ownership.

Man - I miss that truck! Just wish it had a little more horsepower. the 2.4 liter just could not handle the mountains.

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