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But even after spreading the financial load over several years — the most common auto loan terms are 60, 72 and 84 months — many car owners still struggle to make their monthly payments.
Automotive prices and loan interest rates remain high, due in part to inflation. According to Federal Reserve data , the annual percentage rate for 60- and 72-month auto loans from commercial ...
For first-time car buyers, one of the most daunting parts of negotiating a good deal right now is interest rates. The average auto loan rate for someone with excellent credit is 5.25%, according ...
Purchasing a used car is usually cheaper than buying a new one. If you finance the vehicle, you'll generally pay less per month, and it won't depreciate as quickly as a new car fresh off the ...
With auto loan terms increasing—72- and even 84-month auto loans are becoming more common—it's perhaps less surprising that higher loan payments continue to persist, even as car prices and ...
Alabama. Average monthly auto loan payment: $674 Check Out: 5 Worst Cars To Buy That Will Kill Your Wealth, According to Humphrey Yang Explore More: These 10 Used Cars Will Last Longer Than an ...
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