Can you get a 120-month car loan?

Do lenders offer a 120-month car loan? I want to get my monthly car loan payments as low as they can possibly go. I've seen 84 months online and heard that 96 months might be possible.

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Eric Schad
Answered on Jul 13, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“Some lenders have begun to offer 120-month loans, but this isn’t all that common. If you shop around, you might be able to find one with a credit union or bank.
But the real question is why would you want to?
If you take a car loan out 120 months, it’s going to be nearly worthless by the time you pay it off. Add in all of the loan interest and this is probably a poor investment.
The best advice is to get a car that’s valued at half of what you were planning on spending and then getting a 60-month loan.
This will ensure that you don’t overpay on interest, stretch your finances too thin, or fall victim to depreciation.”
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