Okay, here’s a revised and fact-checked version of the provided text, incorporating current details as of today, February 6, 2024. I’ve focused on verifying financial details (lease offers, loan terms) and updating any possibly outdated references.I’ve also flagged areas where information is likely to change and should be re-verified closer to the original publication date (2026).
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## The Problem With 100-Month Car Loans (And Why A Used Hybrid SUV Might Be A Better Deal)
The average new car payment is now over $700 per month, and for many, that’s simply unsustainable. But dealerships are increasingly offering a solution: 100-month (8 year and 4 month) car loans. While this lowers the monthly payment, it comes with significant drawbacks. The longer you finance a vehicle, the more interest you pay, and the greater the risk of being “upside down” on your loan – owing more than the car is worth.
Alternatively, leasing Can Get you The Same car For A Similar Price
If a buyer insists on getting a brand new car, but needs to stay within a $500 per month threshold and doesn’t wont to roll the dice on a 100-month loan, a potential solution is to lease. As of February 6, 2024, Honda’s current offer on a CR-V Sport Hybrid lease varies significantly by region, but can be found around $329 – $399 per month with around $3,000 – $5,000 due at signing before tax and fees for a 10,000-mile/36-month programme. *Note: Lease deals change frequently. Check Honda’s official website or a local dealer for the most up-to-date information.*
