Sep 10, 2019
10:16:42am
Richbyu Contributor
With an 8 year car loan:
On average, a vehicle would have about 100,000 miles on it, after the 8 year term of the loan.

Let's say you bought a new Nissan Armada for $55,000, 8 years, 6.24% (8 year loans have a higher interest rate).

You are looking at 8 years of monthly loan payments of $729.22 per month. Yikes!
Richbyu
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Richbyu
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