That's great news! My car loan is for 6 years!!! I end up saving a lot of money!
In the late 90s I followed the WT's recommendation and enrolled in a technical course of study. I took out some student loans and one of the options was a graduated repayment plan where the monthly payment kept getting bigger as time passed. I felt I was getting one over on them by agreeing to it since Armageddon would arrive before I finished paying my loan. Five years later I ended up rolling it into a student loan I had taken out to pay for a legit college education. Since it got consolidated into my college loans, I will probably end up paying three times the value of the loan by the time I'm done. They give out the worst advice when it comes to higher education and vocational training.