$46000, auto loans are usually 6 years. Used to be 5 but banks get more interest by stretching it to 6 and can offer a more attractive monthly payment.
I wasn’t disagreeing with you, but I could have been clearer.
. . . A more attractive monthly payment (more attractive to those who didn’t bother to do the math to realize they’re paying an extra $3000 over the life of the loan)
All right. To my US friends, once again: The monthly cost of anything does not matter. What matters is the total cost.
$46000, auto loans are usually 6 years. Used to be 5 but banks get more interest by stretching it to 6 and can offer a more attractive monthly payment.
You can’t even see the BS anymore, can you?
I wasn’t disagreeing with you, but I could have been clearer.
. . . A more attractive monthly payment (more attractive to those who didn’t bother to do the math to realize they’re paying an extra $3000 over the life of the loan)
I probably read too fast :)