It wasn't so long ago that a 60-month auto loan seemed to push the limits of personal finance and common sense. Now, according to data from J.D. Power, over 7 percent of auto loans have 84-month terms. That's seven years of payments! 

People, what are you thinking? Life comes at you fast and being on the hook for a quickly-depreciating asset for seven years is a very bad idea. Loan companies don't care what happens to you after you sign on the dotted line, so it's up to you to look out for yourself.  

If you can't afford the payments on a car unless the payback is spread over seven years, you can't actually afford to buy it. Get something smaller or slower. Go used and save up for your dream car. Your future self will thank you.  
 
Oh, and a hex on purveyors of sub-prime and long-term loans.