Longer loan lower interest rate, or shorter loan higher interest rate?
I'm a first time car buyer with mediocre credit. I have been offered two choices from different lenders (one being the dealership guy)
1. 5% fixed over 72 months
2. Credit Union, 10.49% at 60mos
Thanks for posting.
I recommend checking out our Loan Comparison Calculator.
It lets you compare the monthly cost and total cost of each loan, so there is no guessing involved!
This article may be helpful as well: How to Get a Car Loan - NerdWallet
We hope you enjoy your new car!
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