Compare 36, 48, 60, 72 and 84 months at once
Keep the same financed balance and APR so the term itself is the only thing changing.
| Term | Monthly payment | Total interest | Total of payments |
|---|---|---|---|
| 36 months | $1,089/mo | $4,194 | $39,194 |
| 48 months | $846/mo | $5,621 | $40,621 |
| 60 months | $701/mo | $7,080 | $42,080 |
| 72 months | $605/mo | $8,571 | $43,571 |
| 84 months | $537/mo | $10,095 | $45,095 |
A lower payment can be a more expensive loan.
Stretching the same balance across more months usually reduces the required payment, but the balance remains outstanding longer. Compare both the monthly relief and the total interest before choosing a term.
Keep the amount financed constant when comparing terms.
Dealers can change several deal variables at once. A clean term comparison holds principal and APR constant so you can see the effect of the loan length itself.
FAQ
Which car loan term has the lowest monthly payment?
With the same principal and APR, the longest term generally has the lowest required monthly payment because repayment is spread across more months.
Which term usually has the least total interest?
With the same principal and APR, a shorter term generally produces less total interest because the balance is repaid faster.
Why compare 36 through 84 months at the same time?
Seeing every common term together makes it easier to spot how much monthly payment you are saving and how much additional interest or repayment time comes with that savings.