If I have a car loan of 30k (after downpayment), how many months should I do? Whats typical? 48? 60? 72?
as low as possible. nothing keeps you poor longer than car payments. ideally buy a car cash. If thats not possible I would never go more than a 48 month loan and always pay it off ASAP. faster you pay it off, less you pay in interest and the sooner you can get back to your life
@trucker274
Absolutely. I personally won't go into debt for a car but everyone's situation is different.
I would think as short a term as possible, and avoid being "upside down" in your car loan.
@chucktobias
agreed because if you're underwater the minute you drive off the lot, it will be 10x harder to sell the car before it is paid off. always borrow less than the car is worth
Long enough not to keep you up at night.....
Go to a bank loan officer, have them do the math, and you decide for yourself. Otherwise, the largest payment for the lowest months.
