When buying a new car, will your car payments be higher than buying a used car?

It depends on the year, make, model, and milage of the cars you're comparing, money down, interest rate, etc. All things being equal (same year, make, model), a used car will be less expensive. Comparing a New Corolla to a used Audi, though, will throw things off...

Probably but there are variables.

Even if you could get an extra long term of 6-7 years doesn't mean its a good idea. In fact, its a very bad idea.

If you were able to get a 6-7 year loan, your payment might actually be lower than on some used cars. But such a long term is a bad idea.

a 6-7 year loan is almost as bad as a lease.

The only things that matter are the amount financed, interest rate and term of the loan.

New or used does not matter. A new Toyota is less then a used Corvette.

The only time new verse used would come into play would be when there was factory incentives like 0% financing or a longer term.

Not always. The more expensive the car, the higher the repayments. New cars are usually more expensive than used ones, but a new Dacia will usually be cheaper than a used Mercedes.

usually. but it depends on your credit history and how good of a rate you can get a loan for, either through the dealer itself, or your local bank.

your bank maybe able to get you a better loan because they know your income history and can go from there. maybe consider asking one of your parents to co sign on the loan to pay the car if one of them has a better credit history rating then you do.

you can find out your own credit history by signing up for creditkarma.com it's completely free and safe, i have an account and so do my parents, among other people. it takes the scores from two sources.

or, just go to a site like experian and sign up for their free trial. you have to put in your credit card info, but you can just cancel it once you get your score and before the trial is over. i think it's a couple weeks. i've done that before before i signed up with credit karma.

Cost of payment is determined by price of vehicle, length of contract, rate of interest and amount of down payment you make. New or Used is not relevant.

depends on the car, like others have said. but you spend almost as much per month on a new car as a used one, when you combine all the expenses. new cars have better gas mileage, so what you are saving in lower payments can get eaten up at the pump. or repairs that are covered by the dealership on a new car (5 year/50k mile warranty) vs. you paying to have it fixed out of your own pocket. its also easier to find you to notify you about recalls with a new car.

keep in mind, when you finance a car you have to have carry full insurance coverage for the time you are paying off the loan.

The more you spend, the more it costs.

Actually, a new car can be financed for a longer period of time, so the payments may be lower.