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
Will lenders give you a car loan for 84 months?
I was reading that a 60-month car loan is the maximum length of a loan that you should get, but the payments are a bit steep for the car I want. Can I get a car loan for 84 months to lower my payments?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
I’m happy to say that lenders will give you a car loan for 84 months! An 84-month
car loan
is becoming increasingly popular in the United States, with up to 18% of buyers choosing the option. So in your case, an 84-month car loan is certainly an option.The upside of an 84-month car loan is that you get lower monthly payments, which also offers more flexibility to do what you will with the extra funds. However, every good thing has its disadvantages that you should explore. An 84-month car loan also means:
- You pay far more in interest
- Your warranty may expire while you still owe on the car, forcing you to pay for all repairs out of pocket
- You may want a new car before your current lease ends
In addition, you have to pay for full coverage
car insurance
for the entirety of the loan, which can be a costly venture, especially for a car that’s six or seven years old.As you mention, most personal finance experts agree that a 48- or 60-month loan is the best option. This is because it balances affordable monthly payments, less chance to go upside down for a lengthy time, and less interest paid over the life of the loan.
No matter which car loan length you choose, make sure you shop around for the best car loan rates, as well as the best car insurance. For the latter, download the
Jerry
app. We’ll get you personalized rates in a matter of minutes so that all you need to do is pick the plan that works best for you. And once you’ve picked one, we’ll help you switch!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