It’s common to make payments on a new car for six years – in part because of the high cost of new cars; many people could never afford the payments if they were on a three or four year timetable, as they once were back in the days when cars were affordable.
How about ten years – on an “affordable” small camper? One of those little guys you can pull behind your truck or SUV that has a bed, mini-kitchen and maybe a small bathroom/shower combo.
The latter can be found for $25,000 or so – which is about half the price paid for the average new car, financed over six years. But it’s common for loans on even small and putatively “affordable” campers to extend as far out as ten years – in part because the interest on RV loans is roughly twice what it costs to borrow money for a new car loan. The monthly payments seem pretty low – but how much will you have paid by the time you pay it off? […]
– Read More: www.ericpetersautos.com
Click this link for the original source of this article.
Author: Eric Peters Autos
This content is courtesy of, and owned and copyrighted by, https://discernreport.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.