I’m a big fan of the 72 month car loan as long as it doesn’t mean you can’t take advantage of better dealer incentives. I get a low monthly payment and still pay it off in 2-3 years but, Heaven forbid something bad happens, I can pay that low note for a couple of months.

My ex was financially illiterate. She had a small amount of student debt, drove a very humble car, and would eat beans and rice to stretch a dollar. It seemed like actually having access to money and credit triggered her to be careless.

She tried some solutions on her own and would always get angry when I asked questions. I said that we needed to work together so I wrote up a list of our monthly expenses and asked her to fill in what I missed or change the amounts if needed. She never did anything with the list because she thought I was telling her what to do.

The woman I chose to be the mother of my children, ladies and gentlemen.

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Posted by DiamondDog

Louisiana

Member since Nov 2019

10677 posts

Posted on 9/20/20 at 5:48 pm to BobABooey

quote:
I’m a big fan of the 72 month car loan as long as it doesn’t mean you can’t take advantage of better dealer incentives.

I’ve bought two vehicles in the last two years with no money down.

60 months and 72 months.

At 0%. That’s the only time you should ever put $0 money down or take a note longer than 60 months on any vehicle.

In fact, at 0% it’s smart money to stretch it out as long as they allow. The depreciation rate stays the same. Only time you wouldn’t I suppose is if you know you’re like a hot shot hauler and knew you’d likely see end of life in less than 72 months. Even then, you’d have to put on some serious miles to not make it worth it. Talking 250,000 over 5-6 years.

This post was edited on 9/20/20 at 5:49 pm

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