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120 Month Auto Loans

10 Year Car Loan
10 Year Car Loans - Online!

Are you interested in getting a car loan for 120 months?

After all, 120 months is an unbelievably long time to be paying off an auto loan.

Extended car loans divide the loan amount into more, and consequently less expensive monthly payments over a longer period of time, but you will ultimately pay a good bit more in the way of total interest. Additionally, you will probably be up against negative equity for a longer period of time.

Shorter car loans help you pay back your vehicle faster. You’ll pay less in the form of total interest, and you’ll be in a stronger position in relation to negative equity. Having said that, the payments will cost you a good bit more than they would for a 60 to 84 month loan.

Listed below are the various positives and negatives. Bear in mind, 120 months makes for an insanely long-term loan.

Short Term

Long Term

  • Higher Monthly Payments

  • Lower Total Interest

  • Lower APR Rates

  • Less Negative Equity

  • Better Trade-in Value

  • Lower Monthly Payments

  • Higher Total Interest

  • Higher APR Rates

  • Higher Negative Equity

  • Lower Trade-in Value

Why not get a rate quote on the 120 month car loan you need? Please click here to get started!

10 Year Auto Loans: Rates

In actuality, 120 month car loan rates vary based on your credit ratings, location, and your loan company.

That said, we’re able to provide you with some monthly payments and interest amounts paid based on excellent, good, fair, bad, and terrible credit. These figures are based on a $20,000 loan.

Rate Of Interest

Monthly Payment

Total Interest Amount

  • 4.5% APR

  • 6.0% APR

  • 8.0% APR

  • 12% APR

  • 20% APR

  • $210

  • $220

  • $245

  • $285

  • $385

  • $4,875

  • $6,645

  • $9,112

  • $14,435

  • $26,380

As you can tell, when dealing with [year] year auto loans, you will probably have a very low payment per month coupled with a very high amount of total interest paid. A 120 month auto loan is really only realistic for people who are financing a vintage, classic, or otherwise special car which will increase in value (appreciate) during the 10 year course of the loan. This appreciation can offset the very high amount of total interest that will be paid on the vehicle. Does this fit well with your budget? If yes, we can help you get pre-approved for the 120 month car loan you need – online!

Click This Link to Apply for Your 120 Month Auto Loan!