A slang expression based on the length of time of financing for the average car loan, generally 60 to 84 months (5 to 7 years), used to denote a specific period of time generally associated with a lengthy jail or prison sentence.
I heard Carla went to court last week and got off with a light sentence of probation. With all the stuff she's into and all the trouble she's caused, if I were the judge, I would have car loaned her ass!
by Who 'Dis? Who 'Dat? September 3, 2022
Get the Car Loanmug. The biggest monthly expense for many people such as Americans.
Often can be financial traps for poorer people, as predatory car loan companies have been charged with collaborating with sleazy car dealers to increase loan principals. (The total loan amount)
Car loans often start off "cheap" to pay but monthly and finally increase to an astronomical cost for the buyer, often higher than what the car is worth.
Also, people may have their car stolen or totaled, or lack insurance and without gap insurance they still have to pay the loan.
Finally, car loans are a very common reason for people's cars to be repo'ed/impounded.
Often can be financial traps for poorer people, as predatory car loan companies have been charged with collaborating with sleazy car dealers to increase loan principals. (The total loan amount)
Car loans often start off "cheap" to pay but monthly and finally increase to an astronomical cost for the buyer, often higher than what the car is worth.
Also, people may have their car stolen or totaled, or lack insurance and without gap insurance they still have to pay the loan.
Finally, car loans are a very common reason for people's cars to be repo'ed/impounded.
I got myself into a really bad situation. I just got an expensive car loan for a car that isn't even that new or reliable. Now I have to work overtime for a year or two to dig myself out of this situation and that loan company is trying to find every reason to impound my car!
by rfrsiopgjdog October 15, 2025
Get the car loanmug.