"Should I take out a longer loan on a $30,000 car for smaller monthly payments? "
"I was talking to the dealership about auto financing options for a $30,000 car. The salesman said he can get me approved for a 60-month loan at $560 per month or a 72-month loan at $470 per month. The interest rate is the same at 1.75%.
I could use some extra money each month to pay down some of my other debt, but I know it will cost me more in the long run. Should I go with the shorter loan or the longer one?