Car loan calculator

One of the most basic questions you'll need to consider when taking out an auto loan is how long it should be. The length of your loan ultimately sets the stage for how much you end up paying to finance a car.

Therefore, car shoppers should carefully assess their situation before determining how long their car loan should be, especially if they are dealing with credit problems.

Auto Loans and Loan Terms

Today, the average car loan has a term greater than five years.

According to Experian's State of the Automotive Finance Market report covering the first quarter of 2017, the average new car loan has a 68.53-month term.

Who offers 96 month auto loans

For used cars, that number checks in at 63.84 months. More alarming than that, Experian found that 34.9 percent of all auto loans for new cars had terms ranging between 73-84 months, while the same is true for 19.5 percent of used car loans.

These types of numbers are cause for some concern.

While there are always exceptions, the great majority of personal finance and car buying authorities would advise against consumers ever t

how long should my car loan term be

how long is too long for a car loan