Buyers can now stretch a Tesla loan out to seven years, a development sure to dismay advocates of conservative personal finance. For some, owning the electric brand has become a status symbol worth extending payments to achieve.
Longer loan terms lower monthly payments but increase the risk of owing more than the car is worth, especially as EV values soften. The trend reflects how far some shoppers will go to put a coveted badge in their driveway, even at a long-term financial cost.
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