Financing traps
Car price$28,000
Credit score720
Good
720
Estimated APR range: 7% – 10.5%
Best choice
48 months
Monthly$693
Total paid$33,286
Interest$5,286
Common option
60 months
Monthly$578
Total paid$34,671
Interest$6,671
Dealer trick
84 months
Monthly$447
Total paid$37,544
Interest$9,544
Warning: The 84-month loan costs $4,258 more in interest than 48 months — for the same car.
Tip: If the dealer marks your APR up by just 2%, you'll pay around $1,648 extra over 60 months. Always bring a pre-approval.
For your tier: Solid range. Your credit union will almost always beat the dealer — get pre-approved before you shop.