Can You Finance a Used Car?

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They’re some of the most common questions we’ve received at Sendell Volkswagen – “Can you finance a used car?” and “How many years can you finance a used car?” Yes, much like a new car, you can finance a used car for up to six years! If you’re looking for the lowest possible monthly car payment, you might be asking, “How long can you finance a used car?” On average, most used car loan terms range between 60 and 72 months.

Of course, Irwin buyers should keep the following in mind. First, the longer your loan term, the more interest is owed. At the same time, some banks will restrict used car financing to vehicles that meet specific requirements. So, can you finance a used car? Yes, you can, and in the following guide, we explore how to finance a used car in more detail.



Used Car Financing Restrictions

How many years can you finance a used car? To be honest, there are no limits for a used car loan term length. Some lenders can set their restrictions, and some might not finance used vehicles with more than 100,000 miles or are more than seven years old.

So when someone asks how many years can you finance a used car, don’t worry about the length. Sendell Volkswagen has relationships with a wide range of Latrobe lenders and our finance staff will help find a lender that works best with your needs. 

Short Used Car Loan Term: Pros & Cons

Now that you know how to finance a used car, you can choose a shorter or longer loan term. As long as you comfortably pay your amount each month, doing so has significant benefits and can help you save money in the long run.

Short-Term Loan Pros

  • Less Interest: Interest is added to your monthly payment every month. If you’re paying your loan in less time, you will pay less interest over a shorter loan term than a longer loan term.
  • Faster Pay-Off: You will also enjoy the benefits of ownership, including having no monthly car payment at all, with a shorter loan term.
  • Easier Refinancing: It’s much easier to refinance your car loan with a shorter-term loan since you have spent less time with negative equity. 

Short-Term Loan Cons

  • Higher Monthly Payment: Since your total cost is split into fewer monthly payments, you’ll pay a higher amount each month. It’s important to choose a loan term length with a monthly payment that’s within your budget. Our payment calculator tool can help you determine a lean length and payment that works for you.

Long Used Car Loan Term: Pros & Cons

Since there’s no limit to how long can you finance a used car, a longer loan term can provide several benefits, including lower monthly payments. However, you will have higher interest over time and the chance for more vehicle depreciation the longer it lasts.

Learn More About Used Car Financing at Sendell Volkswagen

Now that you know how to finance a used car, Sendell Volkswagen has the best pre-owned vehicle deals around Irwin. Can you finance a used car? Yes, you can! Browse our used and certified pre-owned inventories to find the right model for your needs and budget. 

You can also save with one of our pre-owned vehicle specials. How long can you finance a used car? The length depends entirely on your needs! Experience the best pre-owned vehicles in Greensburg with Sendell Volkswagen!

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5079 US-30, Greensburg, PA, 15601

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