Car Salesman's 84-Month Loan Sparks Debate: Is Lower Payment Worth Higher Interest?

New Jersey Car Salesman Weighs In On Long-Term Auto Loan: Is It Worth the Interest? Joseph Rodriguez, a car salesman known online as @jrodsellscars, recently posted a video detailing his potential purchase of a 2024 Cadillac CT5-V Blackwing. What makes this purchase unique is not the car itself, but Rodriguez's financing strategy. He's opted for an 84-month loan, a decision he explains in his video. "The reason I'd be financing this car for 84 months is simply because it would give me the lowest payment possible," Rodriguez says in the video. He explains that maintaining a low monthly payment, even with the added interest, allows him to take home more money each month while making consistent content. The video shows a detailed breakdown of the financing, revealing a total cost of $113,969.66, including a $25,000 down payment, and a significant interest payment of $17,034.65 over the seven-year loan. The video has sparked discussion about the pros and cons of long-term financing and whether the trade-off of higher overall interest is worth the lower monthly payment.