How Long Can My Chevy Finance Term Be?

Trying to navigate the car financing process on your own can get a bit frustrating. But when you have the help of our Chevy finance team here at Kearny Mesa Chevrolet, you’ll enjoy a smooth car-shopping journey as you find the perfect new Chevy car for you. One important question we’ll help you answer is how long you should finance a Chevy car.

How Long Can You Finance a Chevy Car?

The amount of time your spend paying back your car loan is referred to as a “term.” Modern finance terms vary widely depending on the budget and financial goals of car buyers.

If you pay the whole cost of the car up front, you won’t need finance. However, doing so isn’t often very realistic for drivers.

Extending your payments for a longer term can make buying a car more affordable right away. Some modern finance terms last as long as 72 months or longer.

Which Term is Right for Me?

Picking the finance term that’s right for you depends on a few factors. For one, if your credit is low and you don’t have very much money saved up, choosing a longer term could be right for you.

As you make payments on time, your credit score will improve, and not having to pay much each month can make your purchase more affordable.

It’s important to note that longer loan terms will come with lower monthly payments but have a higher interest rate, so you’ll end up paying more over time than if you chose a shorter term.

So in the end, picking the right term for you largely has to do with what you’re comfortable spending and what you’re long-term financial plans are.

Contact our San Diego Chevy dealership today to learn more!