# Average Car Loan Length Explained

> How long should you finance your car for?
- Title: Average Car Loan Length Explained · Yahoo Finance | Shortify
- Summary: How long should you finance your car for? The average car loan length is 69.46 months for new vehicles and 67.86 months for used vehicles in Q2 2026…
- Keywords: car loan, experian, q2 2026, loan term, monthly payment, interest rate, credit score, auto loan, business, finance, Average, Car
- Source: Yahoo Finance — https://finance.yahoo.com/markets/options/articles/long-car-loan-163621954.html
- Published: 2026-09-17T14:50:00+00:00
- Read time: 1 min
- Topics: car loan, experian, q2 2026, loan term, monthly payment, interest rate, credit score, auto loan, business, finance
## What’s the average car loan length?
The average car loan length for new vehicles is 69.46 months in Q2 2026, while used vehicles average 67.86 months, according to Experian.
## How does loan term affect payments?
A longer loan term means lower monthly payments but higher total interest costs over the loan term.
## Credit score impacts loan terms
Borrowers with excellent credit scores typically get loan terms of 64.88 months for new cars and 66 months for used cars.
## Loan terms by credit score
Credit scores from 781 to 850 (super prime) average 64.88 months for new cars and 66 months for used cars.
## Shorter loan terms save money
Shorter loan terms reduce total interest paid but increase monthly payments, potentially making the car more affordable in the short term.
## Longer loan terms lower monthly payments
Longer loan terms lower monthly payments but increase total interest costs, risking being upside-down on the loan.
## How to choose the right loan term?
Determine your budget, shop for preapproval, calculate borrowing costs, and make a decision based on monthly payment and total cost.
## Loan term trade-offs
Longer terms lower monthly payments but increase interest costs and risk of being upside-down on the loan.
## Bottom line
The average car loan length ranges between 24 and 84 months, with the right term depending on your budget and credit score.
## Key takeaway

The average car loan length is 69.46 months for new vehicles and 67.86 months for used vehicles in Q2 2026, according to Experian.