What is the longest term available for a car loan?

I've heard of eight-year car loans, but is that the maximum term? How long can car loans be?

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Jim Donaher
Answered on Mar 08, 2021
Jim Donaher is a freelance writer and manager with over 35 years' experience in the insurance, banking, and investment management businesses. He provides expertise on a range of topics and is able to explain complex industry information in layman's terms. Jim is the author of two books, including Call Him, He's Home: A Guide to Prayer for Regular People and Then Larry Smiled, a novel about life, death, accountability, and salvation. Taormina, Sicily is his happy place!
The longest term available for an auto loan is 10 years, or 120 months. A loan of this length will result in a low monthly payment, but the savings may be eclipsed by the huge interest costs.
Also, note that most lenders do not offer 10-year auto loans. Those that do often only approve this term for collectible, exotic, or antique cars, as they are more likely to appreciate in value over the life of the loan.
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