How Long Can You Finance a Car?

Maximum Auto Loan Terms Explained

Most buyers can finance a car somewhere between 36 and 72 months, and many lenders also offer 84-month terms on certain deals. The “best” term is not the longest term you can get—it’s the term that keeps your monthly payment comfortable without inflating total cost or trapping you in negative equity. This guide explains common term lengths, what actually determines your maximum term, and how term choice changes the buying process.

Browse Inventory View Specials Back to Main Page

What “loan term” means (and why it matters)

Your loan term is simply how many months you have to repay the loan (36, 48, 60, 72, 84, etc.). Longer terms can lower the monthly payment, but they usually increase the total interest you pay and can keep you underwater longer (owing more than the vehicle is worth). If you want clean definitions for loan term, APR, and loan-to-value (LTV), the Consumer Financial Protection Bureau has a straightforward glossary here: CFPB: Auto loans key terms.

Typical auto loan terms (what most buyers actually see)

In real-world approvals, most loans cluster in the 60–72 month range. Some buyers qualify for 84 months, and shorter terms (36–48 months) are common when buyers want the fastest payoff or when the vehicle’s age/mileage drives lender limits. Used-car term ranges can vary widely depending on the vehicle and the lender; Experian summarizes typical used-car term ranges here: Experian: How long can you finance a used car?.

What determines the maximum term you can get?

There is no single “maximum term” rule that applies to everyone. Your max term is a lender decision based on risk, and these factors typically drive it:

• Credit profile: stronger profiles usually unlock more term options and better pricing.
• Income and stability: lenders look at your ability to sustain the payment over time.
• Debt-to-income: your total monthly obligations matter, not just the car payment.
• Loan-to-value (LTV): how much you’re financing versus vehicle value; down payment or trade equity can strengthen approvals.
• Vehicle age and mileage: older/higher-mileage vehicles often get shorter term caps.
• Deal structure: amount financed, add-ons, and negative equity can tighten the approval window.

The tradeoff: lower payment vs. higher total cost

A longer term can make a monthly payment feel easier—but the total cost can rise materially over time. The most reliable way to compare options is to look at the full deal: price, APR, term length, total interest, and total amount paid—not just the monthly number. The Federal Trade Commission puts this in plain language and explains why focusing only on monthly payment can be expensive: FTC: Financing or leasing a car.

72 vs. 84 months: when a longer term makes sense (and when it doesn’t)

Longer terms can make sense when your budget is steady, the vehicle choice is conservative, and the deal is structured to avoid high LTV (for example, meaningful down payment or strong trade equity). This is especially relevant if your priority is predictable monthly cash flow.

Longer terms usually do not make sense when you’re using the term purely to “force” a payment on a vehicle that’s too expensive. That approach commonly increases the time you spend underwater, reduces flexibility if your needs change, and can make it harder to trade or refinance later.

How term length changes the buying process (the part most buyers miss)

Your term choice doesn’t just change the payment—it changes what lenders will approve and how the deal must be structured. When the term is longer, lenders tend to look harder at these areas:

• Down payment or trade equity: improving LTV can make approvals smoother and pricing better.
• Vehicle selection: some vehicles qualify for longer terms more easily than others due to age/mileage/value.
• Amount financed: rolling in extras or negative equity raises the balance and can tighten term availability.
• Future flexibility: longer terms can delay the point where you have “real equity,” which affects trade-in timing.

For a broader market context on how extended terms have increased (including 84-month-plus loans), the Federal Reserve discusses the trend and its implications here: Federal Reserve: extended auto loan terms context.

How to choose the right term (a practical framework)

Step 1: Start with a comfortable payment range. Not your maximum—your sustainable number.

Step 2: Pick the shortest term that fits that payment. Shorter terms typically reduce total interest and shorten the time you’re at risk of negative equity.

Step 3: If you extend the term, reduce risk somewhere else. More down payment, stronger trade equity, a vehicle that holds value better, and a leaner deal structure.

Step 4: Keep an exit plan. If refinancing is part of your strategy, it should be based on improved credit and equity—not just time passing.

If you want to move from “research” to real numbers quickly, start here: Get Pre-Approved online, then use our Loan Calculator to compare 60/72/84-month payments side-by-side.

Quick answers (FAQ)

How long can you finance a car? Many loans fall between 36 and 72 months, and 84 months can be available depending on the lender, the vehicle, and your approval profile.

How long can you finance a used car? Used-car terms vary by vehicle age/mileage/value and lender guidelines. Many buyers still land in the 60–72 month range.

Is a longer loan term always bad? No. It can be a rational choice for cash flow—if the total cost and negative-equity risk stay under control.

What’s the biggest mistake buyers make with term length? Stretching the term to make a payment work on a vehicle that’s outside the budget, then paying more over time and losing flexibility.