A car loan is significantly lesser than a home mortgage and that is the reason one would think that payments on a car loan must also be lesser. But that is not the case in reality. The home mortgage may go on to ten to thirty years, while a car loan would not last more than two to five years. Since the tenure of the loan is so short, you will find that the payments of the car loan are just as difficult to wedge in your monthly budget as the payments of your mortgage are. You may take a car loan thinking that you would be very well able to manage the payments but when as the months really pass you come to know how difficult that can be.