What’s the longest car loan you can get?


With more and more car buyers choosing loans over 70 months, consumers may wonder which car loan is the longest they can get. However, the answer may vary depending on the lender and whether or not you are considering captive financing.

In the case of FCA, Chrysler Capital has a maximum term of 84 months on all new vehicles. While longer loans usually come with higher rates, this isn’t always the case. Over the past year, we’ve seen some spectacular offers involving 0% APR for up to 84 months.

Longer loans can save buyers money, but some manufacturers encourage dealers to take larger, longer loans. Therefore, we recommend that consumers do their due diligence in considering whether a longer loan really makes sense to them.

Although there are 96 month loans, they may not be the best option. If you’re looking to lower your payments and have good credit, leasing a car might be a good idea with the right lease. In fact, factory incentives can translate into extremely cheap leases.

According to Experian, 1.91% of new car buyers in 2021 chose an 85-month loan. A year ago it was 4.57%. The average credit score for an 85-month loan was 714. If you have bad credit, the cost of a longer loan could be more than you think.

Those without first-rate credit may face other hurdles as well. For example, Hyundai allows dealers to mark up certain types of auto loans up to 2% when they involve a credit score below 620. This could make a longer loan much less affordable.

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