Is an 84-month car loan worth it?

No matter how much you finance, the longer the loan, the more you’ll pay in interest. An 84-month auto loan may be worth it only if it’s the best way you can afford to get a reliable car. It’s usually cheaper to bite the bullet of a higher monthly payment.

How long is an 84-month auto loan?

An 84-month auto loan gives you seven years to repay the lender. While shorter term lengths are more ideal, the most common term length in the American auto market is 72 months, according to Edmunds. As car prices rise, 84-month auto loans are becoming more popular.

Is 84 months a good car loan?

For some drivers, an 84-month car loan might be the best choice for their situation. However, long-term car loans also end up costing more over time than a short-term loan. Before signing the papers on an auto loan for 84 months, it's important to understand the pros and cons of this option. Looking For A Long-Term Car Loan?