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?

Answer
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
  • Being upside down on the car loan for a lengthy period
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.
Eric Schad
Answered on Nov 01, 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.
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