I haven't decided yet on where to apply for a car loan, but I was wondering about the optimal length? Should I opt for a long term loan, so I'll pay less each month? Or a shorter term loan, so I'll pay less interest? What would you do?
Definitely as short as possible! Why would you want to pay more interest on a car loan, when you can own your car and become debt free sooner rather than later?
Go for a short term period. It is better to get rid of the interest and be free. Well, look for all aspects and then decide.
Vehicle credit residencies that are offered by Banks and Non-Banking Financial Companies (NBFCs) run from 1 year to 7 years. The ideal vehicle advance residency that one can pick relies upon one's close to home needs and necessities.
