Services
PriceProtect™
DriveShield™
GarageGuard™
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Home Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Recent Studies
Comprehensive Data Reports
Reviews
About
FAQ
MenuIcon
BACK

Is a 72-month car loan a good idea?

I want to get the lowest monthly payments on my car loan without having an interest rate that's too high. Is a 72-month car loan a smart move?

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Most experts agree that a 48-month or 60-month
car loan
 is optimal. But that doesn’t mean that a 72-month car loan is necessarily a bad idea. You’ll have to weigh the pros and cons of a long loan term for yourself.
Pros of a 72-month car loan:
  • Lower monthly payments
  • Ability to buy a more expensive car
  • More financial flexibility
Cons of a 72-month car loan:
  • More interest paid over the life of the loan
  • Potential to be
    upside down
     for a majority of the loan
  • Potential inability to refinance
  • Having car problems after the warranty period ends
Ultimately, you’ll have to decide based on these benefits and downfalls. Just remember that you also need to budget for car insurance. Use the
Jerry
 app to compare rates between over 50 carriers to get the best rate for the coverage you need.
MORE:
Should you get a 72 month car loan?
Car BuyingCar LoansCar DealersCar Loan
View full answer 
Jerry user testimonial avatar
rating primary
“My experience with Jerry has been absolutely incredible. It took my car insurance from about $400/month to about $80. The entire experience is seamless.” - Gregory R.
Lower my car insurance too
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

Join 4M+ members in lowering their car insurance

Find insurance savings

You Might Also Be Interested

card cover

72 Month Car Loans: What They Are and Why To Avoid Them

72 months is equal to 6 years—that’s a long time to be stuck with a payment and interest rate that’s higher than the average.
avatar
Jacoba Bood
card cover

The Pros and Cons of Financing a Car

Getting a car loan can help you spread out your expenses and build your credit, but it also means you’ll pay more in the long run due to interest.
avatar
Mary Alice Morris
card cover

How to Reduce Car Payments Without Refinancing Your Car Loan

If you don't have good enough credit to refinance a car loan, auto loan modification is a good option. Contact your lender for options on lowering payments and interest.
avatar
Rochelle Miller-Hernandez

Read Advice From Car Experts At Jerry

card cover

How to Reset the Anti-Theft System on a Ford F-250

Resetting your Ford F-250’s anti-theft system involves getting your truck’s engine immobilizer system to sense the digital security code of your transponder key.
avatar
Mary Cahill
card cover

What Volvo Owners Need To Know About Catalytic Converter Theft

Volvo owners don’t have much to worry about when it comes to catalytic converter theft—learn why here!
avatar
Drew Waterstreet
card cover

What Cars Don't Have Catalytic Converters?

Electric cars and vehicles produced before 1975 are generally the only cars that don’t have catalytic converters.
avatar
Shannon Fitzgerald

What Others Are Asking

Where is the OBD port in a 2016 Honda CR-V?
My car’s been acting a little funky lately, and my neighbor loaned me their OBD reader. But here’s the thing—I don’t know where to plug this thing into. Where is the OBD port on a 2016 Honda CR-V?
avatar
Amber Reed
What do I do if my Mazda MPV sliding door won’t open?
My Mazda MPV power sliding door has stopped working. It seems like no matter what I do, it won’t open. It was working just fine the last time I drove it. What should I do?
avatar
Sarah Gray
How much is Jeep’s disposition fee?
The lease on my Jeep is about to run out, and I know I’m going to have a few fees to pay when I turn the car in, so I’m trying to plan ahead. How much is Jeep’s disposition fee?
avatar
Sarah Gray
Browse All Questions

Browse More Content

Car Repair Resources

Insurance for Your Car

Insurance in Your State

    Insurance In Your City

    Easiest way to compare and buy car insurance

    √
    No long forms
    √
    No spam or unwanted phone calls
    √
    Quotes from top insurance companies
    Find insurance savings
    Car Insurance by Make
    Audi
    BMW
    Dodge
    Ford
    GMC
    Honda
    Hyundai
    Jeep
    Kia
    Lexus
    Mercedes-Benz
    Mitsubishi
    Subaru
    Tesla
    Toyota
    View all
    Car Insurance by Model
    Chevrolet Silverado
    Chevrolet Malibu
    Ford Escape
    GMC Sierra
    Honda Accord
    Honda Civic
    Hyundai Tucson
    Jeep Cherokee
    Jeep Wrangler
    Kia Forte
    Mazda 3
    Nissan Altima
    Subaru Outback
    Subaru Crosstrek
    Toyota Camry
    Toyota Corolla
    Toyota Tacoma
    Toyota Highlander
    Toyota Rav4
    Volkswagen Jetta
    View all
    Car Insurance by State
    AL
    AZ
    AR
    CA
    CO
    CT
    DE
    FL
    GA
    ID
    IL
    IN
    IA
    KS
    KY
    LA
    ME
    MD
    MA
    MI
    MN
    MS
    MO
    MT
    NE
    NV
    NH
    NJ
    NM
    NY
    NC
    ND
    OH
    OK
    OR
    PA
    RI
    SC
    SD
    TN
    TX
    UT
    VT
    VA
    WA
    WV
    WI
    WY
    Car Insurance by City
    Austin, TX
    Boston, MA
    Charlotte, NC
    Chicago, IL
    Columbus, OH
    Dallas, TX
    Denver, CO
    Houston, TX
    Indianapolis, IN
    Jacksonville, FL
    Las Vegas, NV
    Los Angeles, CA
    Nashville, TN
    New York, NY
    Philadelphia, PA
    Phoenix, AZ
    Portland, OR
    San Antonio, TX
    San Francisco, CA
    Seattle, WA
    View all
    Car Loan by Make
    Audi
    BMW
    Chevrolet
    Ford
    GMC
    Honda
    Hyundai
    Kia
    Lexus
    Nissan
    Mercedes-Benz
    Subaru
    Tesla
    Toyota
    View all
    Car Insurance by Company
    AAA
    Allstate
    Aspire Advantage
    Assurance America
    Bristol West
    Commonwealth
    Dairyland
    Encompass
    Infinity
    Kemper
    Mapfre
    Mercury
    National General
    Nationwide
    Plymouth Rock
    Progressive
    Safeco
    State Auto
    Travelers
    Car Loan by State
    AL
    AZ
    AR
    CA
    CO
    CT
    DE
    FL
    GA
    ID
    IL
    IN
    IA
    KS
    KY
    LA
    ME
    MD
    MA
    MI
    MN
    MS
    MO
    MT
    NE
    NV
    NH
    NJ
    NM
    NY
    NC
    ND
    OH
    OK
    OR
    PA
    RI
    SC
    SD
    TN
    TX
    UT
    VT
    VA
    WA
    WV
    WI
    WY
    Car Repair by Service
    AC Compressor Replacement Cost
    Battery Replacement Cost
    Fuel Injector Replacement Cost
    Fuel Pump Replacement Cost
    Ignition Coil Replacement Cost
    Oil Change Cost
    Oil Pan Replacement Cost
    Power Steering Fluid Service Cost
    Rotate Tires Cost
    Spark Plugs Replacement Cost
    Timing Belt Replacement Cost
    Valve Cover Gasket Replacement Cost
    Water Pump Replacement Cost
    Wheel Bearings Replacement Cost
    View all