PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
How do I get a 96-month car loan?
I'm thinking of buying a car and I want the lowest monthly payments possible. Can I get a 96-month car loan? Or does it max out at 84 months?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
The average
car loan
in the US now lasts longer than 70 months, partly because of the soaring popularity of 84- and 96-month loans. So yes, you can definitely get a 96-month car loan, but you should weigh the pros and cons first.Pros of a 96-month car loan | Cons of a 96-month car loan |
|---|---|
Lower monthly payments | |
Ability to buy a more expensive car | Car depreciation will hurt your finances more |
Higher interest rates | |
The potential to pay 1.5-2x more in interest over the life of the loan |
Most experts agree that 48 or 60 months is the optimal loan length, as this length minimizes your interest and depreciation. But ultimately, the decision is up to you.
If you decide to go with the 96-month loan, just apply as with any other loan: find the best lender, build your credit score, and show proof of income, residence, identity, and insurance.
Keep in mind that you’ll have to keep
full coverage insurance
on your car for the length of the loan. To find the best savings, check out the Jerry
app to compare dozens of competitive quotes from over 50 top insurers.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies