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Choosing between a 36-month and 48-month car loan term significantly impacts your finances. Shorter 36-month loans have higher monthly payments but lower total interest costs. Longer 48-month terms offer lower monthly payments but cost more over time.
Input the total price of the vehicle or the amount you need to borrow.
Enter the annual interest rate offered by your lender (APR).
Select the length of your loan in months (typically 36, 48, 60, or 72 months).
Enter your down payment amount to reduce the financed amount.
See your monthly payment, total interest, and complete amortization schedule.
Modify values to compare different scenarios and find the best option.
Input the total price of the vehicle or the amount you need to borrow.
Enter the annual interest rate offered by your lender (APR).
Select the length of your loan in months (typically 36, 48, 60, or 72 months).
Enter your down payment amount to reduce the financed amount.
See your monthly payment, total interest, and complete amortization schedule.
Modify values to compare different scenarios and find the best option.
Choosing between a 36-month and 48-month car loan term significantly impacts your finances. Shorter 36-month loans have higher monthly payments but lower total interest costs. Longer 48-month terms offer lower monthly payments but cost more over time.
The best choice depends on your individual financial situation, goals, and constraints. Use the calculators above to compare both options with your specific numbers.