Buying a vehicle has become more expensive, and many shoppers are trying to offset that by stretching out their loans to lower monthly payments.
However, experts say pushing financing to seven years or longer can leave buyers paying thousands of dollars more in interest and can also make it tougher to trade in or sell the car later.
"You don't want to extend out how long you're paying for it because you'll be paying thousands upon thousands of dollars extra in interest," said Ray Shefska, co-founder of CarEdge.
WATCH as automotive experts show how to keep your payment down in this tough environment:
High car prices, high APR's: What can buyers do to keep costs down?
For first-time car buyer Allyra Spoerl, finding something affordable has meant carefully comparing every option.
"I'm looking at a 2025 Hyundai Elantra or maybe a new one," she said while shopping for her next car.
Her experience reflects a wider trend as many Americans contend with the difficult mix of high vehicle prices and elevated borrowing costs.
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