72 Month Car Loan: Getting The Best Rate

If you're thinking of buying a new or used car trial with a 72 month car loan, then you should be aware that 72 months is a very long time to make car payments on any vehicle. Furthermore, you will be making car payments a lot longer than the manufacturer warranty will apply. As time goes by, there will come a time you may need to pay for expensive repairs as well. However, if you're determined to purchase your next new car or truck with a 72 month car loan, you should try to get the lowest rate available to you.

Apply now for a 72-Month Car Loan or read below for more information.

Credit Unions
If you're a member of your local credit union, you may just be in luck. Credit unions generally have some of the lowest interest rates on any type of new or used car loan. Rates for 72 month car loans will certainly be among the lowest that are available. If you're not a member of a credit union, inquire to several in your area; you might find that joining the credit union is much easier than you think. Under most circumstances, almost everyone is eligible to be a member of one credit union or another. Therefore, call as many as you need to - until you find one that you're eligible to join.

Captive Finance Companies
Captive finance companies are the finance companies of the manufacturers themselves. Typically, captive finance companies are actually subsidiary companies of the car manufacturer. In fact, if you've ever financed a car with one of the lenders that the dealership offers you, then chances are you already have done business with a captive finance company. For example, GMAC finance is owned by General Motors and Ford Motor Credit is owned by Ford Motor Company.

There are times that captive finance companies offer incredible deals on 72 month financing. However, when these deals are available, you generally have to possess excellent credit to take advantage of them. If you do have great credit and captive finance companies are making these types of offers, you may be able to receive interest rates that will not be available any place else.

For example, you've probably seen the big manufacturers offering 0% financing on auto loans. Well, 0% financing will never be available for a 72 month loan; however, when there are 0% specials, you may be able to take advantage of lower than usual interest rates - even with a 72 month loan.

Online Credit Deals
Also, if you have good or excellent credit, you might consider researching some of the online lenders. For example, companies like LendingTree and E-LOAN make getting an online car loan very easy. In addition, if you inform them you are looking for the best rates on 72 month car loans, they will try to accommodate your request by matching your application with lenders that are willing to extend to 72 month car loans at good rates.

Whatever route you choose to find your 72 month car loan, do your research and check as many sources as possible. The more options you have, the better the rate will be.