HOUSTON (KTRK) --Automakers saw a record year in 2015 and it you think this is the year you'll get a new car. So what should you consider?
Money experts say the average term for a new car loan last year was 67 months -- that's 5.5 years of interest!
So it goes without saying longer loans means more interest and cars are typically not a great investment.
So to avoid the hundreds and even thousands of dollars in interest, never finance a car for over 36 months. Anything longer is a signal your buying a car that's too expensive.
So with that in mind, find a cheaper car you can pay off in three years.