[nommm-nommm]

8 year (96 month) car loans are becoming a "thing" in America. Sure, a car that's cost more than your yearly salary looks "affordable" if you only look at the monthly payments and you can manipulate those payments by stretching out the loan forever. I believe 30 year mortgages being "standard" are also kinda a scam[1] for this reason.

Basically the idea everyone having many monthly payments is acceptable.

When I bought my car I did finance it but on my own payment schedule because apparently the dealer didn't offer 12 month financing.

[1] I'm using "scam" broadly I don't think it's a real scam in the literal sense of the word but I can't think of another word. Misleading?

[fnj]

The difference is that you can get an honest 3.5% fixed APR on a 30 year mortgage, but nothing close to that for a car loan, unless it is a subsidized scam.

[nommm-nommm]

Where? In the United States if you have great credit you can get a car loan for under 2% APR in the US for a new car. Under 4% for a used car.