Originally Posted by RShackleford
I'd rather have a less per month "required" payment and pay it off when I can. When I did a loan on my car the interest for 7 yr loan was 2% vs 3.5 for a 4 yr.
I don't really worry about depreciation, I buy cheap enough I can at least break even if I sell it in a few years.
I usually do a 24 month term myself. But I opted for a 48 month this time since my financing rate was at 2.00 percent. It also gives me the option to keep paying the higher payments I'm used to, but lets me slack when I want to.