How Long Can You Finance A 2013 Vehicle?

Depending on your demands, the loan period might vary from 24 to 84 months when you finance.

Similarly, Will a bank finance a 2013 vehicle?

Even if you have excellent credit, a bank would seldom finance a car older than ten years. Even with a new automobile, if you don’t have excellent credit, you may find it difficult to get financing from a bank. When it comes to vehicle loans, though, banks are far from the final resort.

Also, it is asked, How long of a loan can you get on a 2013 car?

When it comes to financing a used automobile, there is no right or wrong duration. The suitable loan period for you might be as little as 24 months or as long as 84 months, depending on your present financial status and future intentions for the car.

Secondly, Can I finance a car older than 10 years?

Financing an automobile that is more than ten years old is straightforward. All you have to do now is fill out an application for a loan and go to the dealership after you’ve been accepted. When you work directly with a dealership, though, the procedure might be much simpler.

Also, What’s the max years you can finance a car?

Some customers may be eligible for financing for 84 months — an eight-year period – or longer, depending on a variety of characteristics such as credit score. According to Experian statistics, the average loan duration for new automobiles was 69 months and approximately 66 months at the start of 2021.

People also ask, What credit score do you need to get a 84 month car loan?

To acquire a car loan, you don’t need a certain credit score. If your credit score is over 660, you would most likely qualify for a car loan with an APR of less than 10%. You may be able to get a vehicle loan even if you have terrible or no credit, but you can expect to spend extra.

Related Questions and Answers

Can you get financing on an older car?

Lenders are willing to finance older vehicles since they have shown to be reliable. While financing through a dealership, a local bank, or a credit union may be available, it’s better to know what you can afford and search around for the best interest rate.

Can you get 84 months on a used car?

Who is willing to finance a car for 84 months? Almost every automobile lender can provide an 84-month auto loan. It may, however, be difficult to qualify for one. Lenders assess a variety of criteria, including the specific automobile you’re buying, the loan-to-value (LTV) ratio, your credit score, and more.

Can I finance a used car for 72 months?

The duration of an auto loan term for a used automobile is determined by the lender, and it varies from company to business. Used automobile loans were typically restricted to 72 months until recently. Due to the increased demand for automobiles, borrowers may now get used car loans for 84 months or longer.

What’s the longest loan term for a used car?

The longest loan period available is usually seven years, or 84 months. Some lenders, on the other hand, may provide used automobile finance for 92 or 96 months, or up to eight years. In 2018, 84-month auto loans accounted for 55% of all new car loans.

Who will refinance a 10 year old car?

Consider utilizing a credit union or a local auto dealer that can offer in-house financing if the vehicle you’re trying to finance is older than ten years. If you’re qualified for membership, Navy Federal, for example, is a countrywide credit union that could be able to give you an excellent vehicle loan rate for an older automobile.

Does selling a financed car hurt your credit?

If the value of your automobile is equal to or near to the amount owed on your account, selling it might help you pay off the debt without damaging your credit.

Can a 17 year old finance a car?

Seventeen-year-olds are unable to get a vehicle loan, much alone become a cosigner or co-borrower. To lawfully sign a loan contract in the United States, you must be at least 18 years old. You’re regarded a minor until you reach 18, and you can’t sign into a contract with a lender until then.

Is 7 years too long for a car loan?

Because of the interest costs that accumulate with a higher interest rate, extending your loan term to seven or even ten years is definitely too lengthy for a car loan. As an example, suppose you take out a $10,000 automobile loan for seven years at a 13% interest rate (a common rate for bad credit borrowers).

Should I do 48 or 60 month car loan?

(1) A 36- or 48-month loan will often cost less in interest than a 60-month loan (assuming that we are not talking about 0 percent interest deals here). As a result, although your monthly payments will be larger as the period lengthens, your overall interest will be cheaper.

How much of a car loan can I get with a 700 credit score?

If you have a 700 credit score, you are in the prime area of credit scores, which means you may obtain a reasonable rate if you shop about, have a strong income, and a low debt-to-income ratio. With a credit score of 700, you may acquire a vehicle loan with an interest rate of 3% to 6% for new automobiles and 5% to 9% for used cars.

Is 690 a Good credit score to buy a car?

Options for vehicle loans with a credit score of 690 A 690 credit score should be enough to get you a vehicle loan. On a used automobile, your credit score should earn you an interest rate of 3.6-4.6 percent and a down payment of – to 6%. Scores of 720 or above are more likely to result in lower percentage rates.

Is 640 a Good credit score to buy a car?

The answer was supplied by While your buddy is correct that your credit score is regarded fair, this does not rule out the possibility of obtaining a car loan! With a credit score of 640, the interest rate on a new automobile loan is roughly 6.5 percent, while the interest rate on a used car loan is around 10.5 percent. The national average credit score is 710, therefore a credit score of 640 is below average.

Can a 20 year old get car finance?

Car loans for 19-year-olds, 20-year-olds, and 21-year-olds In general, as you become older, your credit history improves, which may boost your chances of obtaining auto financing. This only applies if you have steady job and haven’t fallen behind on any bills or other obligations.

Will a bank finance a car with high mileage?

Yes. Because automobiles are lasting longer than they used to, several banks will finance vehicles with high mileage.

What kind of credit score do you need for a classic car loan?

To purchase a vintage automobile, what credit score do you need? The greatest rates are available to people with a FICO score of 661 or above, which is considered a prime credit score.

How long should you finance a used car?

This is why, if you can afford it, Edmunds suggests a 60-month vehicle loan. A lengthier loan may have a more manageable monthly payment, but it has a lot of disadvantages, which we’ll go through later. The situation is much worse for used automobile loans, with just over 80% of used car loan durations exceeding 60 months.

What is a good APR for a used car?

The average financing rate for used autos may vary from 3.61 percent APR for Super Prime to 19.87 percent APR for Deep Subprime. If you can receive a rate for a used automobile that is less than 6%, this is likely to be an excellent APR.

Is 6 years too long to finance a car?

A long-term vehicle loan with a period of six to seven years or even longer has just one advantage. The lower the monthly payment, the longer the auto loan. You may perhaps acquire a more costly automobile while staying within your monthly budget by taking out financing with a longer loan period.

What credit score is needed to buy a car?

661 points or more

What is considered a high car payment?

According to experts, a vehicle payment is excessively expensive if it accounts for more than 30% of your overall income. Remember that your auto payment isn’t the only expenditure you have! Make sure to include in the cost of gasoline and maintenance. Make sure your automobile payment isn’t more than 15% to 20% of your overall revenue.

How long can you finance a 2017 truck?

Depending on your down payment, a new vehicle loan typically lasts 60 months (5 years). Because used trucks have less intrinsic collateral value, lenders may be hesitant to allow terms longer than 36 months (3 years) if you are purchasing one. What is the current rate of interest?

Can I refinance a 2012 vehicle?

Is it possible to refinance an auto loan with an older vehicle? Yes, but only until you reach a certain age. Most lenders won’t refinance a car that’s more than ten years old or has more than 140,000 miles on it. Some lenders have even more stringent conditions, such as reduced mileage limits.

Does refinancing hurt credit?

Refinancing may initially affect your credit score, but it may really benefit you in the long term. Refinancing may drastically reduce your loan amount as well as your monthly payment, which lenders want to see. Your score may drop a few points, but it should recover within a few months.

Do banks refinance older cars?

Is it possible to refinance an older vehicle? Yes. Commerce Bank lends money to those who want to buy new, used, or vintage cars.

Is a 700 a good credit score?

A credit score of 700 technically qualifies you as having a decent credit score, however it is somewhat below the national average. The average FICO score was stated as 716 in April 2021, reflecting a general rising trend in typical credit scores over the previous ten years.


The “how old of a car can i finance for 72 months” is a question that people often ask themselves. The answer to this question depends on the age of your vehicle and how much you pay per month.

This Video Should Help:

The “auto loan calculator” is a tool that helps you to figure out how long you can finance a vehicle. It also shows the monthly payments and other details.

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