Basics
Many people need a car; it’s a fact of life for most Americans. But cars are a depreciating asset.
Unlike a mortgage or a student loan, you’re not building any equity or making an investment in yourself.
Car loans can be found at banks, credit unions, and at car dealerships. Loan terms generally range from 25 to 84 months. The average new car loan term was 67 months at the end of 2015.
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