Doesn't it depend on individual circumstances? For a low mileage driver who plans to properly maintain their car, isn't new for 72 months perhaps better than used for 48? Shouldn't factors such as true cost of ownership be a part of the finance decision?
Nearly 30% of new-car shoppers are choosing to finance for 72 months or longer. If you can't afford the payments for a 48 month loan, you really shouldn't be buying a new car.
The problem is that you're throwing away money on interest charges on that 72 month loan, regardless of circumstances. The higher the interest rate, the more important it is to get a shorter loan term. Here's a related article for more info: http://www.realcartips.com/carloans/108-shorter-term-car-loans-better.shtml
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