So, interesting fact: my sister has a car on a 7-year loan, and it can (in very, very, VERY rare cases) be a smart move.
She had the money to buy the car outright.
HOWEVER, apparently the dealership has some sort of kickback with the financing company, which meant that she got the car for about 2K LESS by financing it (aka: significantly below recommended value), and she got the financing on 0% interest.
So, she did that, and then stuck her money somewhere where it MAKES her money, and got on with life.
... I'm willing to bet that's not the standard approach of people with 7-year car loans though.