the 97-Month Car Loan (solutions, financial, pay, market)
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If you have to take out a 97 month car loan, you can't afford the car.
The average price of a new car is now $31,000, up $3,000 in the past four years. In the final quarter of 2012, the average term of a new car note stretched out to 65 months, the longest ever, according to Experian Information Solutions Inc. Experian said that 17% of all new car loans in the past quarter were between 73 and 84 months and there were even a few as long as 97 months. Four years ago, only 11% of loans fell into this category.
If you have to take out a 97 month car loan, you can't afford the car.
The average price of a new car is now $31,000, up $3,000 in the past four years. In the final quarter of 2012, the average term of a new car note stretched out to 65 months, the longest ever, according to Experian Information Solutions Inc. Experian said that 17% of all new car loans in the past quarter were between 73 and 84 months and there were even a few as long as 97 months. Four years ago, only 11% of loans fell into this category.
If you have to take out a 97 month car loan, you can't afford the car.
The average price of a new car is now $31,000, up $3,000 in the past four years. In the final quarter of 2012, the average term of a new car note stretched out to 65 months, the longest ever, according to Experian Information Solutions Inc. Experian said that 17% of all new car loans in the past quarter were between 73 and 84 months and there were even a few as long as 97 months. Four years ago, only 11% of loans fell into this category.
My last car loan was about 97 seconds. I technically owed them until I handed over the check.
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