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Comparing 60-month and 72-month car loans reveals a clear trade-off: lower monthly payments vs. total cost. The 72-month option reduces monthly burden but significantly increases interest paid and risk of being underwater on your loan.
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.
Comparing 60-month and 72-month car loans reveals a clear trade-off: lower monthly payments vs. total cost. The 72-month option reduces monthly burden but significantly increases interest paid and risk of being underwater on your loan.
The best choice depends on your individual financial situation, goals, and constraints. Use the calculators above to compare both options with your specific numbers.