If you’re starting the quest to find the perfect car around St. Charles and Florissant, you’re probably wondering, “How many years can you finance a car?” In 2020, the most common loan term is 72 months, with 84 months as the second most common choice. However, term lengths have been steadily lengthening over the years. So, is a shorter or longer loan term right for you? Let’s go through the pros and cons.
A longer loan term is often favored by those with less-than-perfect credit, but even those with perfect scores are trending toward lengthier loans in modern times. Why choose a long-term option?
While St. Louis customers tend to prefer longer loan terms, some experts recommend aiming for 60 months instead of the common 72-month term. Why go with a shorter loan term?
Whether you want to further the discussion by asking, “how long can you finance a new car” or “how long can you finance a used car”, let the financial experts at Green Light Auto Credit help you make the best decision for your future. We’re always available to help drivers in the St. Louis area, so don’t hesitate to contact us with your questions.