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GOBankingRates
GOBankingRates
Kathryn Jackson

7-Year vs. 5-Year Car Loans: How Much Extra Interest You Really Pay

EXTREME-PHOTOGRAPHER / Getty Images

Longer car loans might make monthly payments feel easier, but could come at a cost. The interest adds up fast, often making the total price of the car thousands higher than expected.

Before signing a seven-year loan, it’s worth seeing how much more you’ll actually pay compared to a five-year term.

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