The 72 Month Car Loan: Online Applications

If you need a 72 month car loan, you can find several places to apply online. Those who might be interested in a longer loan include those who really need a car, but also need to have payments that are moderate as well as those who want to buy a very expensive car but want to control the size of the payments.

Extending the repayment period on loans is one way to reduce the monthly payments. According to car experts at Kelley Blue Book, for every 10 car buyers, 6 are obtaining these longer term loans, while the average car loan is generally offered from 3 to 5 years.

Looking for an auto loan online can be a good idea when you are trying to find a 72-month car loan. Online lenders are sometimes more willing to look at alternative financing options than traditional lenders, and it is easier to access a large number of dealers.

Some of the places you may look for online lenders who will offer a 72-month car loan include the places you look for cars or car information online. Many of these sites also offer financing and include Cars.com, Yahoo! Autos, and Edumunds.com, among others.

At these sites, you can do research on different types of cars, find cars for sale and apply for loans. You can also get quotes or pre-approval on loans.

Other sites you can visit include those that concentrate on financing in general and are not car-specific websites. These websites offer car loans, including 72-month car loans, but they also offer other types of loans, including mortgages. These sites include LendingTree.com, Bankrate.com and Eloan.

After you find an online lender that does take applications for 72-month loans, you may get different types of quotes.

For example, Cars.com and Edmunds.com will return quotes from only 2 different lenders. One of the ways Cars.com makes money is to provide auto loans, so they are in the 72-month loan business as well as in the auto information business. From both of these sites, you may get a quote from Cars.com themselves, or you may get a quote from their partner, Up2Drive.

At Yahoo! Cars, however, you can get a quote from any of their partner lenders, of which there are up to 6, depending on your situation and their current partner agreements.

At LendingTree.com and Bankrate.com, you will receive many quotes directly from a variety of lenders. These sites allow you to get an idea of all your options. They can also give you a good idea of what kind of terms you might get if you went to a traditional lender in your city.

E-loan does provide a variety of quotes as well, but limits the returns to "partner lenders" so that the number of quotes is generally smaller than it is will the other 2 financial lenders.

These are some of the largest online lenders for 72-month car loans, but they are not the only websites that offer longer car loans. You can do a search for lenders and find other options.

Remember that the longer the loan, the greater the risk to the lender. Therefore you will pay higher interest rates on 72-month car loans.

Also, the car will be worth less when you finally finish paying the loan off because of depreciation. Your monthly payments will be lower overall, but a higher percentage goes to interest each month. Therefore, longer loans mean you pay more overall for a car.