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Cars and Transportation
Reply to "The 7-Year Car Loan: Watch Your Wallet"
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[quote=Anonymous]My wife took a 7 year loan on her GMC Denali. It was zero percent interest and zero percent down. She also took out an extended warranty for an extra four years to make it 7 years bumper to bumper. From her point of view I own the car at end of seven years, I have no repairs in the seven years, I pay no interest. Her monthly payment was the same almost as if she leased it for three years. Why cause lease payment has costs rolled in and some interest. Yes she was stuck with same car seven years. This month is 7 years. Loan is done, truck still runs fine. Took it in last week for a free bumper to bumper check to make sure all good, and if not still under warranty. [/quote]
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