A LONGER LOAN FOR YOUR CAR? BAD IDEA
Apr 29, 2022
3 minutes
The traditional “20/4/10 rule” of car buying states that you should make a 20% down payment, have a loan no longer than four years, and a total monthly car budget that does not exceed 10% of your take-home pay. But the reality is only 6% of new car shoppers actually followed that advice in March, according to sales data. The average loan term for a new or used car has steadily increased over the last decade and
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