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What's the longest car loan offered by Toyota Financial?
Toyota Financial has some great rates on an Avalon, but I want to get the lowest monthly payment. What's the longest loan they offer?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Toyota Financial can often offer the best rates on
car loans
, but unlike other lenders that offer 84-month loans, Toyota Financial only does loans up to 72 months or as few as 24 months.Since you want the lowest payment possible, you should apply for the 72-month loan. If the monthly payment doesn’t fit your budget, you should either consider a more affordable vehicle or you should shop around for rates with other lenders.
Keep in mind that 72-month and 84-month loans also have some drawbacks to consider, including:
- More interest paid over the life of the loan
- The car warranty will expire after three years
When you’re shopping rates, make sure to also shop around for car insurance. With the
Jerry
app, you can compare dozens of quotes at once from over 45 carriers to get the best price for your coverage.View full answer
- Gregory R.
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