How Long Can I Finance a Used Car?

Dealership Finance Professional signing documents

After browsing for the perfect new or pre-owned vehicle, most shoppers will begin exploring financing options. With that being said, not everyone’s situation is the same, so having a finance team you can trust is important. When you’re getting ready to purchase a new ride to tackle your adventures, you may be curious about loan terms. Fortunately, we’ve got the expertise to assist.

So, how long can you finance a used car? Technically, there’s no maximum amount of time you can finance a vehicle for. However, most auto loan terms are around 60 to 72 months. Additionally, some lenders may have restrictions on vehicle age and mileage that can determine your auto loan term. Get a more detailed answer to, “How long can you finance a used car?” today with the experts from Sam Leman Automotive Group!

How Long Can I Finance a Used Car? – Short-Term Loans

To help you better answer, “How long can you finance a used car for?”, it’s important to understand the pros and cons of financing a vehicle with short or long-term loans. Here are some of the advantages and disadvantages of financing a vehicle with a short-term loan for your commute:


  • You’ll pay less interest over time.
  • You won’t have a loan to worry about after a short few years of paying it off.
  • It’s typically easier to refinance a short-term loan.


  • Higher monthly payments.
  • May require a good credit score.

How Long Can I Finance a Used Car? – Long-Term Loans

If you don’t think a short-term loan is a good fit for your lifestyle, you may want to consider a long-term loan. Long-term loans can be a good option for many shoppers like you, so you’ll just have to consider all of its perks and drawbacks. Let’s take a look at some of the advantages and disadvantages of a long-term loan:


  • You’ll have lower monthly car payments.
  • You’ll be able to choose a higher-optioned vehicle without breaking your monthly budget.


  • There are higher interest rates
  • The longer you own a vehicle, the more depreciation it’ll experience.

Financing a Vehicle Is Simple With Sam Leman Automotive Group!

There’s technically no right or wrong decision when it comes to short or long-term automotive loans. You’ll just want to make sure you speak with professional finance professionals to help you find the right vehicle for your Bloomington, Morton, Peoria travels. If you’re ready to finance your next ride, be sure to contact our team and stop by at one of our various dealership locations!


More from Sam Leman Automotive Group

  • Why Are Car Prices Going Up

      If you’ve been looking to buy or sell a car recently, you may have noticed that used car prices have been going up across the country.  Finance CenterContact Us Why are car prices going up? It’s all due to the coronavirus pandemic which has caused supply chain issues and altered buying patterns, resulting in…

  • 2021 RAM 1500 Trim Levels

      With its reputation for delivering rugged performance and strong towing capabilities, the RAM 1500 is designed to meet the challenges of your Central Illinois job site. If you need a pickup truck that is a real workhorse, you’ll want to take a look at the 2021 RAM 1500 trim levels to choose the model…

  • 2021 Jeep Renegade Price

      The Jeep Renegade is one of the most popular models in the Jeep lineup, offering strong performance and superior off-road prowess. Along with these robust capabilities, this compact Jeep SUV also comes loaded with convenient features that will enhance any drive in the Central Illinois area. Perhaps best of all, the 2021 Jeep Renegade…

Sam Leman Automotive Group 40.4607752, -88.9687249.