How Many Years Can You Finance a New Car?

Posted: Wednesday, January 3rd, 2018

Auto loan term lengths can vary depending on your provider. Keep the following information in mind while you shop:

  • On average, auto loan financing usually lasts 65 months.
  • Some lenders will give you over 5 years to pay back the loan.
  • The longer it takes to pay back the loan, the more you’ll pay in interest.
  • Consider your overall financial state before you decide on your financing term length.

Explore this guide to find the best auto loan for you!

New Car Financing Questions

Green Light Auto Customer with new Chevrolet Malibu
  • Can You Make a High Downpayment?
    • If you’re able to spend more money up front, it will save you money on interest in the long run.
  • What’s Your Monthly Budget?
    • Find out how much you can afford to spend on a month-to-month basis before you apply for an auto loan.
  • How Long Do You Plan to Own Your Car?
    • If you’re planning to sell your car a year or two after you buy it, a five-year loan doesn’t make much sense.
  • What Term Length is Best for You?
    • The main consideration is how much you’re able to pay per month, and Green Light Auto Credit can help you find out.

Why Should You Turn to Green Light Auto Credit?

Drivers in the St. Louis area and beyond turn to Green Light Auto Credit when they need a low-interest auto loan. We offer a variety of term lengths, from short term loans to longer ones. On top of that, our finance team will work hard to help you get the APR you deserve, even if you have bad credit or no credit history.

In addition, we know the questions you should ask when applying for an auto loan, and our financing experts can help guide you through every step of the process. Give us a call at 800-200-5551 or fill out a financing application online to get quick preapproval. Why wait to find out how many years you can finance a car? Contact us today with any questions!