Reviewed by Shannon Martin, Licensed Insurance Agent.
You may be able to get a loan for up to 84 or even 96 months, although it’s generally recommended that you avoid loans that are longer than 60 months. The length of your loan repayment period will depend on your current financial situation and your lender’s policies.
Longer loans will offer lower monthly payments, so they can be great if you’re worried about adding a large bill to your budget. But they also have some drawbacks:
The longer the loan period, the more you’ll pay in interest, so you’ll actually end up spending more money on your loan over time.
Your car will lose value over time. If you opt for a longer loan period, it’s possible that you’ll end up
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