I would say the majority of people usually still have a loan out on the car because for the low interest rate they take their money elsewhere and get a higher return than stuffing into paying a car off in a short time.
This also has the other side of people taking the cash and getting a FI kit and now investing more into a car. I myself had less than a year with my Z and threw a SC on it, having the loan was not a big deal.
|