A long-term loan is a type of loan that is paid back over a long period of time. Unlike short-term loans, which must be repaid quickly, long-term loans are designed for bigger amounts of money and spread out payments over years, sometimes even decades. These loans are often used to buy homes, and cars, or to pay for education. In this article, we will explain everything you need to know about long-term loans, along with their key features.
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