Je li dobro uzeti kredit za automobil na 72 i 80 mjeseci?; stručnjaci upozoravaju na financijske rizike

In recent years, the trend of financing automobiles over extended periods, up to 80 months, has gained traction among Mexican consumers. According to data from the Mexican Association of Automobile Distributors (AMDA), the share of auto loans with terms of 60 and 72 months rose from 43.6% of all auto credit issuance in 2022 to 52.5% by 2025. Currently, some financial institutions offer options for paying off vehicles within 80 months, though this comes with notable risks. Ken Charles, director digital of the financial institution MStar, warns that financing a car over 80 months can result in lower monthly payments, but it also increases financial risk for the buyer. He explains that while the monthly burden may seem manageable, the overall cost of financing rises significantly due to the longer period. The additional interest paid over time can amount to hundreds of thousands of pesos, depending on the loan size and interest rate. The decision to extend payment terms often reflects broader economic conditions. Following the pandemic, average new vehicle prices in Mexico surged dramatically. Data from JD Power Mexico shows that the average price of a car increased from 161,000 pesos in 2005 to 535,000 pesos in 2025—a rise of 232%. This inflationary pressure has led many buyers to seek longer repayment periods to ease their monthly financial obligations. However, experts caution against the potential pitfalls of such long-term financing. One major concern is the possibility of owing more than the vehicle’s current value. Vehicles typically lose a significant portion of their worth in the early years, especially during the first few years of ownership. With a lengthy loan term, there's a higher chance that the outstanding balance will exceed the car’s resale value, creating negative equity. If the owner needs to sell the vehicle or faces unexpected damage not fully covered by insurance, they could still owe money despite having paid off the loan in full. Another risk involves the stability of the borrower’s financial situation. Committing to a seven- or eight-year payment plan increases exposure to life changes such as job loss, reduced income, medical expenses, or family-related challenges. These unpredictable events can make it difficult to maintain regular payments, potentially leading to default or late fees. Additionally, owners may find themselves facing ongoing maintenance costs even after the loan is fully repaid. Older vehicles require more frequent and expensive repairs, which can overlap with the remaining loan payments. This dual financial burden can strain household budgets, particularly if other expenses increase simultaneously. Long-term financing also limits flexibility. If a consumer wishes to trade in or sell the vehicle before the loan is settled, they may face substantial residual debt. This can complicate the transaction, requiring additional funds or making the sale less attractive to potential buyers. Experts recommend that borrowers carefully evaluate their financial capacity and consider shorter loan terms whenever possible. A 48- to 60-month loan often provides a better balance between manageable monthly payments and reasonable total financing costs. For those who prioritize reducing immediate financial pressure, longer terms should come with a clear understanding of the associated costs and risks. To mitigate these risks, specialists suggest strategies such as increasing the down payment, choosing a shorter repayment period, ensuring the loan allows for prepayment without penalties, maintaining an emergency fund, and comparing the Annualized Total Cost (CTA). These steps can help consumers make informed decisions and avoid unnecessary financial strain.