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Help me choose one. 60 terms or 72 terms? Thank you!
Help me choose one. 60 terms or 72 terms? Thank you! I took out a car loan and plan to pay it off within 1-2 years. The loan offers two term options: 60 months and 72 months, both at the same interest rate. The total loan amount is about $15,000. Since I intend to pay it off within two years, would it be smarter to choose the 72-month term for the lower monthly payment? This is my understanding—...
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