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What is the maximum amount of time for which you can take out a car loan?
Wiki User
∙ 8y ago
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.
Wiki User
∙ 8y ago
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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
How long does mortgage loan processing usually take?
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