96 Month Auto Loans

While financing a car for 7 to  8 years may save a few bucks on your monthly budget, some think it to be one of the worst financial decisions you could ever make.

“You will be under water on your loan almost as soon as you drive the car off the lot,” says Alec Gutierrez, senior market analyst for Kelley Blue Book. Clark Howard agrees and suggests a car should be financed no longer than 42 months.

Read more of what experts are saying: