When it’s time to upgrade your everyday performance with a pre-owned vehicle, you may be wondering, “How long can I finance a used car?” There are many car-buying solutions for drivers looking to keep an eye on their budget. The average auto loan term for a pre-owned vehicle is 60 to 72 months, with smaller monthly payments coming from longer lease terms. The length of your auto loan depends on how much you can pay each month. Use our payment calculator to help estimate your monthly payments and learn more about financing a used car below. Then, browse our inventory of pre-owned vehicles at Maserati of Central Florida.
How long you can finance a used car ultimately depends on the lenders. While there’s no set limit on term length, lenders tend to place their own restrictions on auto loan length. In some instances, banks limit auto loans to up to seven years and generally prevent loans on vehicles with more than 100,000 miles. Be sure to ask about restrictions on financing a used car and consider if the loan terms work for your needs.
When you’re considering loan terms for your used vehicle loan, there’s no right or wrong answer. How long you should finance a used car depends on what your budget can handle at the moment and what you can afford over the length of the term. Let’s explore the pros and cons of each term length:
Pros of Short-Term Loans
Cons of Short-Term Loans
Pros of Long-Term Loan
Cons of Long-Term Loan
Still wondering, “How long can I finance a used car?” Discuss your car buying options with the Maserati of Central Florida finance department. Used car financing allows Winter Park drivers to find a model that fits their style and budget. Get in touch with our team to set up a test drive today!
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