About a third of new car loans and around 19% of used car loans are Taking advantage of a car loan that lasts 72 months or longer has a few benefits. can be in a situation where you have no car, but still owe the bank a. See rates for new and used car loans and find auto loan refinance rates from lenders. Perks: Bank of America will finance a minimum of $7, ($8, in you can apply for is more limited — you can pick only a , 60 or month term. View and compare current auto loan rates for new and used cars, and discover month auto loan options Our online application allows you to select terms of 48, 60 or 72 months; you can discuss other terms with your loan officer after your Once you apply you can check application status, upload and download loan.

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What 0% APR \u0026 NO PAYMENTS really means... Let's say you want to buy a new car, but the monthly payments that are being quoted for the usual five-year loan are too high for will a bank finance a used car for 72 months. When you stay within a rate-shopping window, credit bureaus look at all the hard inquiries made for the same type of credit as one, minimizing the impact to your credit score. Longer auto loans will have their place for some buyers, though, and may be the best option to get on the road in a much-needed vehicle. If you do decide to take out a long loan, you can avoid being underwater by making a large down payment. In fact, there are many reasons why you shouldn't choose a long car loan.