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Let's run the actual numbers. Same $35,000 car. 7% interest rate, which is honestly optimistic right now, the average is over 9% for new cars. 36-month loan: You pay $37,875 total. Not great, but manageable. 96-month loan: You pay $42,887. That's $5,012 MORE for the exact same car. You're literally paying for 1/7th of another vehicle just in extra interest. But it gets better. Well, worse. That 96-month loan? | Bidding For Autos
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