Is 96 month financing a good idea?

Ron Henson
Fiat Chrysler Automobiles’ head of U.S. and Canadian sales says, "extended amortization periods -- stretching to 84 and even 96 months -- are “a very powerful tool to make big-ticket items more affordable.” Haven't we learned any lessons in the past 7 years?
Chris Johnston
And you thought you had problems getting upside-down buyers bought now....just wait!
Ron Henson
No doubt Chris! Pure madness.
Mark Frost
Even 72 months is stretching it to a degree that most buyers will end up underwater (with a decent downpayment included). Some vehicles may be able to hold their value, but most will plummet and leave buyers out to dry. I hope for the economy's sake that people stay employed...
Grant Gooley
Isin't that crazy!? Meanwhile cars are flipped every 3 years.. Nobody is ACTUALLY financing for 96 Months... It shouldn't even be allowed. IMO
Bill Simmons
I agree that it should not be allowed. I'm very nervous about all of the 84 months loans that are being done in some of our stores. Unfortunately with the pressures on front end new car profits, holding a point or two of rate on 84 months equals huge back-end profit in the F&I office. They're thinking short term with that approach in my opinion and not thinking how it will affect them in the next downturn.

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