The average car loan has gone from 48 months to 63 months just in the last few years. So, instead of being in debt for four years, people are in debt for five years. And some people are taking out six- or seven-year loans. In addition, the people who are buying these cars are often upside down in their current loans. So, you’ll end up owing money on the old car even after you’ve traded it in. It’s a recipe for disaster. If you learn your car is worth less than you owe, keep it. Even if you hate the car, you have to keep it. Kim, one of Clark’s producers, bought a truck a few years ago when finance charges were 0 percent. She was very excited about the deal at the time, but now she hates the vehicle. However, she’s sticking with it, even thought it has a five-year loan. Sometimes you just have to eat it. And if you’re looking at a car you really want but there is no way you can make the payments, you have to chose another car.