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Up to how many years can I finance a new or used car? I need low monthly payments for the next few years. Also would it be better to get a car loan myself or let the dealership do it, that is if I don’t by from a private seller.

Oh and old of a car can be financed, dealer and private?

4 Comments »

1. 

   don’t go anymore that 60 months

   your best bet is through your Bank or credit union.

   Comment by sixoneurdun — December 29, 2010 @ 9:04 am

2. 

   If you have gold-balls credit you can go 84 and even 96 months. Its a terrible way to buy a car, but you CAN do it. you will be a slave to that car for a very long time, and I say you are buying outside your realistic price range.

   Personally, I never go more than 60 months on a car. I try to keep it to 48 whenever possible.

   Your best bet for financing is a combination of getting your own loan,and using the dealer. Go to your credit union or bank, or lendingtree.com, or eloan.com. Get preapproved and take the best rate and terms you can get.

   Then, go to your dealer. Contrary to all those "Beat the dealer" BS sites, its better to tell us up front that you have secured financing. the dealer will then say "If I can meet or beat your rate, will you finance with us?" The answer should be YES.

   Why? Because dealers make comission on financing. If he can meet or beat your best rate, let him. You have more bargaining power when teh dealer is financing, because they are making money on the front and back ends of the deal. If you dont let them finance, you may not get as much of a discount on the car. Since they stand to make no profit in the finance office, they need to hold more on the car itself.

   So, get your best deal, and let the dealer meet or beat it. That way you both win.

   Age of car? we can finance just about anything. The older the car, the higher the rate, and shorter term….

   Comment by xx_satanic_mechanic_xx — December 29, 2010 @ 9:04 am

3. 

   1 to 5 yrs

   Comment by Reign73 — December 29, 2010 @ 9:04 am

4. 

   u can actually finance up to 84months on a car 25k or more i wouldn’t recommend it a normal finance term now of days is 60 to 72 months also remember that your rate changes depending on the months

   Comment by Adrian P — December 29, 2010 @ 9:04 am

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