More and more car buyers are doing something that was frowned upon not that many years ago. They're taking out car loans lasting seven years. Is it worth it?
If you take out a car loan lasting seven years, it will take you nearly two presidential terms to pay off that car. During that period, you're also paying a lot more interest at a higher interest rate.
In days gone by, a loan like that carried interest that was just too high. According to the Wall Street Journal, the rates for seven-year car loans are going down, so the interest in longer loans is going up.
The good news is smaller car payments, in some cases you could a $100 dollars less than what you are paying now. With lower payments, you could get a nicer car.
But the big pitfall is still about money. You're going to pay a lot more for the car. Not a little bit more, but thousands more.
Keep in mind how long you keep a car. An auto broker the I-Team talked to says most people change cars every three years. If that sounds like you and you have a seven-year loan, you still owe a bunch of money on that car you're trying to sell.
It may have you wondering whether that extra money in your pocket every month is really worth it.
Tuesday, June 18 2013 11:38 PM EDT2013-06-19 03:38:42 GMT
The City Council of Chamblee has delayed a controversial land rezoning variance. The Council also issued a preliminary resolution saying that they wanted to fire their own manager.
The City Council of Chamblee has delayed a controversial land rezoning variance. The Council also issued a preliminary resolution saying that they wanted to fire their own manager.
Monday, June 17 2013 8:03 AM EDT2013-06-17 12:03:25 GMT
We all get excited about leaving town and going on vacation, so we tend to tell everyone about it. But, a word of caution before spreading the good news.
We all get excited about leaving town and going on vacation, so we tend to tell everyone about it. But, a word of caution before spreading the good news.
Monday, June 17 2013 7:13 AM EDT2013-06-17 11:13:04 GMT
Pomegranate juice has been sold as a real 'cure-all' over the last couple of years. But in a decision made this month, the FTC has ordered at least one manufacturer to back off on its strong health claims.
Pomegranate juice has been sold as a real 'cure-all' over the last couple of years. But in a decision made this month, the Federal Trade Commission has ordered at least one manufacturer to back off some pretty strong health claims.
Friday, June 14 2013 8:56 AM EDT2013-06-14 12:56:09 GMT
Retailers got the go-ahead to pass along some extra charges to you, but not without some rules attached. You might not have noticed them just yet, but you should be on the lookout.
Retailers got the go-ahead to pass along some extra charges to you, but not without some rules attached. You might not have noticed them just yet, but you should be on the lookout.
Tuesday, June 18 2013 5:56 AM EDT2013-06-18 09:56:03 GMT
Eager to cash in on the recent run of good news about the Stock Market, but you don't know how to get started? Here's how!
Eager to cash in on the recent run of good news about the Stock Market, but you don't know how to get started? Good Day Atlanta goes to the pros for answers!
Monday, June 17 2013 12:05 AM EDT2013-06-17 04:05:45 GMT
The loyalty cards on customer's key chains may be going out of fashion making way for the loyalty apps. There is a new one that has hit Atlanta called Front Flip.
The loyalty cards on customer's key chains may be going out of fashion making way for the loyalty apps. There is a new one that has hit Atlanta called Front Flip.
Friday, June 14 2013 8:56 AM EDT2013-06-14 12:56:09 GMT
Retailers got the go-ahead to pass along some extra charges to you, but not without some rules attached. You might not have noticed them just yet, but you should be on the lookout.
Retailers got the go-ahead to pass along some extra charges to you, but not without some rules attached. You might not have noticed them just yet, but you should be on the lookout.
Thursday, June 13 2013 7:16 AM EDT2013-06-13 11:16:10 GMT
You might think saving the environment has to cost a lot of money. But, Good Day Atlanta's Tacoma Perry found way to go green and save green at the same time.
You might think saving the environment has to cost a lot of money. But, Good Day Atlanta's Tacoma Perry found way to go green and save green at the same time.
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