Beware longer-term six- or seven-year auto loans.

Beware longer-term six- or seven-year auto loans.

A 3rd of the latest auto loans are actually much longer than six years. And that is “a actually dangerous trend, ” claims Reed. We now have a entire tale about why this is the case. However in brief, a seven-year loan means reduced monthly obligations than the usual loan that is five-year. However it will even suggest having to pay a complete great deal more cash in interest. More →