Based on the following scenario, would the total cost of a car be cheaper to purchase with the shorter or longer term? Loan Amount: 30,000 Interest Rate: 5.5% Terms: 36 months vs 60 months Group of answer choices The total cost of the car would be cheaper with the longer term because you would have more time to pay it off. The total cost of the car would be cheaper with the shorter term because the payments would larger; thus, you would pay the car off sooner