Financing math: the term is the trap, not the rate
Eighty-four months makes any payment look affordable. Here's what it costs.
Stretch any loan to 84 months and the monthly payment looks affordable on almost any car — that's the whole trick, and it's why the term matters more than the headline interest rate. A longer term multiplies total interest paid and keeps you underwater (owing more than the car is worth) for years longer than a 60-month loan on the same price.
Run the total-cost number, not just the monthly one, before signing: multiply the payment by the number of months and compare it to the car's price plus a realistic rate. If the gap is large, a shorter term or a bigger down payment is usually the cheaper path even though the monthly number goes up.
Finance