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How many months can a car loan be?

I’m not sure how many months my car loan will be. How long is a loan contract usually?

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Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
There are several different options for car loans, so it can be difficult to determine what your loan contract will be. Currently, the most common length for a car loan is
72 months
. However, most lenders will offer car loans in 12-month increments, including 24, 36, 48, 60, and 84 months.
It’s generally best to get a
car loan
with a 60-month contract or less if you can afford to do so. While 72 and 80-month loans will typically offer lower monthly payments, you’ll pay more in interest.
Additionally, it takes longer to build equity on longer car loans because of the high interest rates. With longer loan terms, it’s common to be
upside down
on your car loan for longer and, if you decide to trade in your car before your loan contract is up, you might have to roll over some of the cost of your previous vehicle.
It can be hard to find the right car loan, but it’s easy to find the right insurance policy for your new vehicle with the
Jerry
app! Just download the app and answer some quick questions to see your policy options in a comprehensive list. When you find a quote you like, Jerry will help you sign up and can even help cancel your old policy.
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