Getting a 72-month auto loan has both its benefits, as well as its downfalls. On one hand, you can get lower monthly payments. On the other hand, you will be paying more in the long run for these loans. Most long term car loans are typically 36 to 48 months, with some being as long as 60 months. 72 month loans are fairly new and have been attractive to prospective buyers. It is imperative you understand the advantages and disadvantages to this type of loan.
It may even be possible to find an 84 month loan or even a 120 month loan. The following information can be used in order to help you decide if a 72-month term is right for you.