Length of Auto Loan Can Be Costly

Auto loans have been steadily increasing in length and experts are concerned of what this will mean for the automotive industry. According to the Detroit Free Press, “the longer you take out a car loan, the more chances you’re taking with your finances.” Who knows what the economy will be like in six years? In addition, consumers that take out a six year loan can spend an extra $4,000 just on interest. Why be tied to one car for so long? With all the new trends and technologies rapidly coming out every year by the time those six years are up you will want to catch up.

Nevertheless, there are additional income-friendly options for car shoppers. Swapalease.com is the leading online lease marketplace, offering people a chance to exit their lease early. Lease buyers can choose to take over a lease, saving money and getting into a newer vehicle. Leasing has recently helped the auto industry, and consumers have been taking advantage of this more inexpensive option.

Loans are now being stretched out for longer terms in order to make vehicles more affordable and easier on consumers’ pockets. Why not skip chaining yourself to a five or six year loan when you can drive a different car every two to three years? Leasing offers more cars at an affordable price.

Being efficient in your car shopping is essential in getting a good deal. Headquartered in Cincinnati, Ohio, Swapalease.com is the world’s largest automotive lease marketplace and the pioneer in facilitating lease transfers online. For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.