- Banned
- #76
Depends on interest, I’ll be buying it with a 72 month term, I’ve always opted for that route on all my car purchases. I prefer the lower payment if for any reason something comes up. Water heater, AC unit, car repair etc. I save money every month so I live on a lower budget than what I make and I don’t like to touch my savings, I live off my after savings checking. I just send $50-100 extra a month on every payment.I will side with the crowd that if you are even considering a 72 month loan you cannot afford it. Better to buy a used Jeep cash and grab a Bronco later.
Just a quick generic calculation but 42K @3% for 72 months. $50 will shave 6 months off the loan and will only be about $300 more interest wise over a 60 month loan. I always put money down too though to lower the initial interest peak at the beginning. Bronco should see 6-8K down for me, dropping the overall to mid 30’s or below.
Sponsored