Attention: do not take out a 9-year auto loan (for crying out loud)!
Lenders around the country are apparently offering 9-year auto loans mortgages. I am willing to make a sizable wager that 90% or more of the people who take out a 9-year auto loan will be upside-down on their loan when they trade in their whip for a shiny new one.
[photo: Kerry A Adamo]
P.S., I am sorely tempted to take out a 9-year loan for a Mini Cooper, but selling my soul might be cheaper in the long run.
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Tags: auto, auto loans, borrowing, cars, crazy, lending, mortgages
Filed under: Coping With Credit & Debt, Personal Finance Tips
Tags: auto, auto loans, borrowing, cars, crazy, lending, mortgages
Filed under: Coping With Credit & Debt, Personal Finance Tips
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