answersLogoWhite

0


Best Answer

It used to be 60 months, but there are now banks / car lots writing 72 and even 80 month car loan notes.

On a new car, do not finance for more than 5 years... If you do, most likely you'll be out of warranty. What if the engine dies at 61 months and it'll cost $3000 to replace it, but the book value on the car is only $2000 and you still owe $3300? Sounds like a pretty crappy situation!

Normally, once you get past 5 years, the payments don't go down enough to make it really worth it anyway.

On a used car, never do more than 24 months (unless it's certified, then MAYBE 36).

These new 66 and 72 month loans are popular because they allow a buyer to get a fully-loaded car instead of the base model, but they are stuck with the car for a long time and there is a good chance you'll have problems.

User Avatar

Wiki User

โˆ™ 2015-07-17 17:41:49
This answer is:
User Avatar
Study guides

Loans

26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

โžก๏ธ
See all cards
2.33
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
3 Reviews

Add your answer:

Earn +20 pts
Q: What is the maximum amount of time for which you can take out a car loan?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the maximum amount of time you should take to check for pulse?

20 seconds


What is the maximum amount of time you should take to check for a a pulse?

20 seconds


What is the maximum amount of time you should take to check for a pulse?

20 seconds


What is the maximum amount of time you should take to check a pulse?

You can take someone's pulse in 15 seconds.


What is the maximum amount of time a tourniquet should be left on?

what is the maximum amount of time a tourniquet should left on


What does a loan calculator do?

A loan calculator calculates how much money it will take you over a set period of time to pay back the loan you have taken out. It will help you find the amount of money you can loan and not go bankrupt.


what is the maximum amount of money i can request for a title loan ?

Usually a title loan is based on the current market price of the vehicle. Usually 25% of the price is what you can get a title loan for. Before you sign anything make sure you take the time and read all the small print and ask lots of questions. Some Title loan places will have you pay back 2 or 3 times what the original loan was for. Be careful.


What is special about pendulum swing?

No matter how high you set a pendulum, the amount of time for it to take one arc (maximum to maximum) will always remain the same.


What do you call a loan tis obtained by the consumer who keeps the entire amount of the loan for a specific period of time and pays back the loan amount plus interests at the end of the loan period?

term loan:)


Does the personal loan app affect CIBIL?

No, when u buy a loan by a personal loan app then you have to fill the amount before the tenure period of the time. The loan amount should be returned on time. When u returned the loan amount in the tenure time your cibil score does not affect by the app.Here are some of the Apps1. Mudrakwik2. Kreditbee3. LoanMart4. CashBean5. MoneyTap


What are the minimum and maximum loan amounts for Salaried Personal Loans?

What are the minimum and maximum loan amounts for Salaried Personal Loans?The Loan is depends on their requirement. Personal loan is an unsecured loan which is offered by various private financial companies like Mudrakwik Link , Loanmart as well as MoneyTap. The personal loan disbursement happens on the key criteria such as:Documentation Procedure1. Salary Slip of the back Last Month2. Your ID and address proof3. Minimum age should be in 214. Details of CustomerApproval Time of Personal Loan: 1 to 2 Working DaysThe Maximum loan amount is 10, 00,000/


What is the maximum amount of time to settle a workmans comp case?

Each state has a different amount of maximum time to settle a workmans comp case.

People also asked