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  1. www.lendingtree.com › auto › short-term-car-loans5 Reasons to Choose Short-Term Car Loans | LendingTree

    Jul 31, 2024 · Five reasons to choose a short-term car loan. Most of the time, the shorter the term, the less you’ll pay for your car loan — here’s how. 1. Save on total interest. Opting for a short-term car loan often reduces the total amount of interest you pay.

    • Gary Wollenhaupt

  2. www.thebalancemoney.com › pros-and-cons-of-shortThe Pros and Cons of Short-Term Auto Loans - The Balance

    Nov 3, 2021 · The best part about a short-term loan is that it is short term. A 36-month car loan will most likely keep you from being underwater on your auto loan. If you go into a short-term loan with zero money down, it is possible to owe more than the value of the vehicle, but it should not last very long.

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  4. www.edmunds.com › car-loan › how-long-should-my-carHow Long Should a Car Loan Be? - Edmunds

    May 1, 2013 · Loans of 48 months or less increased from just under 7% in 2019 to slightly over 14% today. A shorter term usually comes with a lower rate, and buyers typically finance less on a shorter term...

  5. www.cardealcanada.ca › short-term-vs-long-term-carShort Term Vs Long Term Car Loans - Car Deal Canada

    May 14, 2024 · A short-term auto loan generally ranges from 24 to 60 months, while a long-term loan can stretch from 60 to 84 months – or even longer in some cases. Shorter loans have higher monthly costs but pay off quicker and accrue less interest.

  6. www.autotrader.com › car-shopping › buying-a-carWhat Term Should Your Car Loan Be When Buying? - Autotrader

    Sep 18, 2024 · The most common car loan terms are from 36 to 72 months. The longer the loan term for a car, the more you will pay in interest for using the lender’s money, meaning you pay more for the vehicle overall. For most of us, the main problem with short-term loans is the larger monthly payment.

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  7. www.approvalgenie.ca › blog › car-financeShort-term vs. Long-term Car Loans: Which is Better?

    Feb 27, 2024 · Shorter loan terms result in higher monthly payments, while longer-term loans offer lower monthly payments but come with higher interest rates. Lower overall interest: Shorter loan terms usually carry lower interest rates. With a reduced repayment period, lenders view these loans as less risky, resulting in lower interest rates.

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  9. www.caranddriver.com › auto-loans › a43148948How Long Can You Finance a Used Car? - Car and Driver

    Jul 19, 2023 · Short used car loan terms operate on a time frame that's usually between 12 and 60 months. The benefits of this finance period include: Refinancing: One of the best ways to improve your...