Stretching a car loan from 48 months to 60 months means the car will end up resulting in a smaller monthly payment.

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Stretching the car loan to a longer term will reduce the monthly payment because the total amount borrowed is spread over a longer period, resulting in smaller monthly payments. However, it also means paying interest for a longer time, leading to a higher total cost of the loan.

Stretching a Car Loan from 48 Months to 60 Months