Selecting a loan term may seem like an easy choice, just go with the monthly payment you can manage and you're done. However, the term you decide on has more impact than just your repayment. It determines what you pay overall, how fast you gain ownership of the car, and whether you're at risk if you have to sell before the loan is repaid.
If you can afford the vehicle at 60 months but not at 72, you can't really afford that vehicle. Look for something cheaper.



