Me sitting here with a 28% APR on my 11 year old car. My own doing bad credit but I did get the car I want through ACA.

> ACA

Affordable Care Act?

My guess is American Credit Acceptance... a subprime auto loan originator.

> It's absurd, to be honest. We financed our last vehicle, because we got a price discount via financing. The FIRST payment term they brought us was 8 years. And this was for a 19k vehicle.

I’m gonna go out on a limb and guess it was a Nissan dealership. Nissan can’t sell enough cars without subprime lending, that’s my guess as to why you were offered a 96-month term lol.

With a prime credit score, Toyota offered a 3 year term loan to me which I changed to 5 years (2.5%, it’s free money)

Ford. The town is medium to low income. So I'm guessing that's their motivation?

> 8 or 10 year loan. Then you roll that remainder into the next loan when you get another car.

What does this mean? Surely lenders are not lending more than the price of the new car with just the new car as the collateral.

That is exactly what they are doing. It's common to have negative equity in car, just roll to the next auto loan.

Suppose you are buying a new car for $30k, and you owe $10k on a car that would sell for $5k.

A dealership would take the car worth $5k and lend you $35k?

Exactly! And with high interest rate, like 15% for 8y. 3 years later you can roll over debt into the next new car.