Car Loans

[MarkD]

So what do you guys think of 6-year car/truck loans?

[gmcjoe]

I would never do it.  I always say, if you need more than 4 years, you probably cannot really afford the vehicle.  Just my view...

 

If you own a home, a home equity loan will allow you to pay cash for the vehicle and use the interest as a tax deduction. Provided you have enough equity in your home of course  ;)  

[carguru]

I would never do it.  I always say, if you need more than 4 years, you probably cannot really afford the vehicle.  Just my view...

 

If you own a home, a home equity loan will allow you to pay cash for the vehicle and use the interest as a tax deduction. Provided you have enough equity in your home of course  ;)  

[bscottb]

 

I agree. 4 years should be the max

[Shaners]

Alot depends on the miles you drive and the maintenance you perform, along with the interest rate.

 

Right now I can get 6 years for 4.9%!  That is a great rate and with the miles I put on a vehicle, it will have between 40K-50K miles when paid for.

 

For me it is a no brainer to go 6 years....

[97Z71]

I am a 3 year max guy........ put a little more scratch down and keep the payments reasonable.

Hate the idea of paying all that interest...

 

Now the 0% gig definetly changes things.