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The Best 72-Month Auto Loans

These companies can help you save on interest, even with a longer loan term.

Best 72-Month Auto Loan Overall

AUTOPAY offers a wide variety of auto loan options at affordable interest rates with flexible terms.

Best 72-Month Auto Loans for Used Cars
myAutoloan Logo 2023

MyAutoloan has the best rates of any company on our list and is especially favorable to borrowers looking for used car loans.

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When you’re in the market for a new or used vehicle, you may need financing to help you spread the payment out over time. A loan term of 72 months allows you to lower your monthly payment significantly, but some lenders charge higher interest rates for longer terms. To help you save money on your loan, we’ve rounded up the five best providers for 72-month loans.

The Best Auto Loan Rates for 72 Months

  1. 1.

    Best 72-Month Auto Loan Overall: AUTOPAY

  2. 2.

    Best 72-Month Auto Loans for Used Cars: myAutoloan

  3. 3.

    Best 72-Month Auto Loan Refinancing: Digital Federal Credit Union

  4. 4.

    Best 72-Month Auto Loans for Excellent Credit: Upstart

  5. 5.

    Best 72-Month Auto Loans for New Cars: PenFed Credit Union

Comparison of the Best Auto Lenders for 72 Months

Auto loan provider Best for Founded Loan provider or aggregator Loan term in months Minimum APR Loan amounts Better Business Bureau (BBB) accreditation BBB rating Trustpilot rating (out of 5)
AUTOPAY Overall 2007 Aggregator 24-96 2.99% $2,500-$100,000 No A+ 4.8
myAutoloan Used cars 2003 Aggregator Up to 84 2.49% $8,000-$100,000 Yes A+ 4.1
Digital Federal Credit Union Refinancing 1979 Loan provider Up to 84 5.24% Up to 130% of vehicle value No A+ 1.9
Upstart Excellent credit 2012 Aggregator 24-84 Not disclosed Starts at $9,000 Yes A+ 4.9
PenFed Credit Union New cars 1935 Loan provider 36-84 4.59% $500-$150,000 No A+ 4.6

Detailed List of the Best 72-Month Auto Loans

1. Best 72-Month Auto Loan Overall - AUTOPAY

What We Like Most:

  • Low minimum APR of 1.99 percent
  • Loan amounts range from $2,500 to $100,000
  • No minimum credit score required

AUTOPAY is one of the best online lenders that specialize in connecting borrowers with auto loans, allowing you to shop for multiple lenders at once. The company offers a variety of financing options, including used and new car loans, auto refinancing, lease buyouts, and cash-out refinances (which is when you borrow more than you need and keep the excess in cash). To date, AUTOPAY has helped more than 700,000 customers find loans for their car purchases or refinances.

ProsWho It's Best For
  • pro
    Borrowers who want competitive interest rates
  • pro
    Customers who want excellent customer service
  • pro
    People with all ranges of credit scores
  • pro
    Borrowers who want to prequalify without hard credit checks
ConsWho It's Not Best For
  • con
    Buyers who want the fastest loan approval and funding
  • con
    Borrowers who want to avoid an origination fee, since some AUTOPAY lenders charge them
  • con
    Customers who don’t want to provide a down payment, which some lenders may require

Low Starting Interest Rates

Your interest rate is one of the most important factors to consider when you’re financing a car, since a higher interest rate could add thousands of dollars to your total payment. Luckily, AUTOPAY offers some of the most competitive rates for borrowers with the best credit, as your APR depends in part on your credit score.

According to AUTOPAY’s website, interest rates start as low as 2.99 percent. These low rates make it easier to spread your loan out over 72 months without paying too much in interest.

To give you an idea of what that means, if you took out a $20,000 auto loan with a 72-month term, you would end up paying less than $1,900 in interest. And while that may sound like a lot, it’s lower than every other company on our list except myAutoloan.

Keep in mind that because AUTOPAY is a loan aggregator rather than a provider, it can’t guarantee interest rates or influence the rate you get. Instead, your interest rate will depend on your creditworthiness and the lender you borrow money from.

Highly Rated Customer Service

AUTOPAY is one of the most highly rated companies on our list, according to Trustpilot reviews. The company has a score of 4.8 out of five stars, and 93 percent of reviewers gave the company five stars.

Many of the customer reviews specifically cited the provider’s easy sign-up process and excellent customer service. People especially liked that, unlike with many companies, AUTOPAY made it easy to get a real person on the phone.

AUTOPAY gives customers several different methods to contact its customer service department. It has a customer service phone line that’s available Monday through Friday, 7:00 a.m. to 7:00 p.m., and Saturdays, 9:00 a.m. to 5:00 p.m. There’s a customer service email and online message feature as well.

Loans for Borrowers with Fair Credit

Because of the wide variety of lenders it features, AUTOPAY works even for customers with fair credit. Often a credit score that’s fair or poor (meaning anything below 670) can prevent you from qualifying for an auto loan. Luckily, AUTOPAY lenders can work with borrowers at any credit level.


You don’t have to get a hard inquiry on your credit report to find out if you qualify for an AUTOPAY loan. The company offers prequalification with soft credit checks, so you can find out if your loan is likely to be approved before you complete the official application.

2. Best 72-Month Auto Loans for Used Cars - myAutoloan
myAutoloan Logo 2023

What We Like Most:

  • APRs as low as 1.90 percent
  • Not all lenders require down payments
  • No minimum credit score

MyAutoloan is an auto loan aggregator that offers financing for new and used dealer purchases, private party sales, auto refinancing, and lease buyouts. Additionally, it offers financing for motorcycle purchases. The company offers the best starting interest rates of any company on our list, with rates beginning at 2.49 percent.

ProsWho It's Best For
  • pro
    Customers with excellent credit and buyers doing refinances or lease buyouts, who can qualify for low rates
  • pro
    Borrowers who want to prequalify without a hard credit check
  • pro
    People who want their loans funded quickly
  • pro
    Customers buying used cars through private party loans
ConsWho It's Not Best For
  • con
    Borrowers in Alaska and Hawaii, where myAutoloan doesn’t offer loans
  • con
    Customers who want easy-to-reach customer service
  • con
    People who need loans for less than $8,000, which is the minimum loan amount myAutoloan offers

Low Minimum Interest Rates

MyAutoloan offers some of the lowest rates of any company on our list. The company’s lowest interest rates available are 2.49 percent for refinance and lease buyout loans and 2.99 percent for 72-month loans.

These rates are especially attractive if you plan to finance a car over 72 months. This longer loan term can help lower your monthly payment, but also often results in higher interest rates. MyAutoloan offers better rates on its 72-month loans than most lenders offer even on their shorter loans.

Fast Loan Funding

MyAutoloan can fund a loan and have the money in your hands as quickly as 24 hours after you’ve completed your application. With many lenders and loan aggregators, loan funding can take far longer. You might wait that same 24 hours just to find out if your loan has been approved and days longer to receive the money.

A major benefit of this fast loan funding is you don’t have to worry about losing out on a great car because your financing takes too long. When you’re buying a new car, you can special-order it and ensure the dealership will hold it for you. But if you’re buying a used car, this option may not exist. MyAutoloan’s fast funding process means that when you find your dream car, you can buy it as soon as the next day, before anyone else can.

Private-Party Sale Loans

Not only does myAutoloan offer loans when you’re refinancing a loan or buying through a dealership, but it also offers financing for private party sales. Depending on your situation, finding financing for this type of purchase can be a challenge.

When you buy a car through a private party sale, you can fill out a short offer form, and myAutoloan will match you with up to four different lenders almost immediately. These fast-funding private-party loans are ideal if you’re shopping for a used car. You can keep your options open, shopping used cars from both dealers and individuals rather than limiting yourself to just shopping at dealerships.


While myAutoloan is an excellent option for a private party sale, you won’t get the company’s best interest rates. Rates for these sales start at 3.99 percent for borrowers with excellent credit.

3. Best 72-Month Auto Loan Refinancing - Digital Federal Credit Union
Digital Federal Credit Union Logo

What We Like Most:

  • 3.24 percent minimum APR
  • Discounts for electronic payments and energy-efficient vehicles
  • No down payment and no payments required for the first 60 days

Digital Federal Credit Union (DCU) offers a variety of types of auto financing, including regular auto loans, antique car loans, auto loan refinancing, motorcycle loans, and loans for vehicles with modifications for people who have disabilities. While DCU doesn’t offer the best interest rates, it offers large loans and discounts to save on your monthly payments.

ProsWho It's Best For
  • pro
    Existing DCU members or people who want to become DCU members
  • pro
    Customers who want the most responsive customer service
  • pro
    Buyers who are refinancing vehicles
  • pro
    Owners of vehicles with modifications for someone with a disability
ConsWho It's Not Best For
  • con
    Customers who want the best-rated company (DCU has a poor Trustpilot rating)
  • con
    Borrowers who want the lowest interest rates
  • con
    People who want to get prequalified with a soft credit check

Low Refinancing Rates

DCU is an especially attractive choice if you want to refinance your current auto loan. Rates on these refinance loans start at 5.24 percent overall, and at 6.24 percent for 72-month loans. You can spread your payment out over a long period of time, something not all refinance lenders allow.

One of the reasons we think DCU is great for refinance loans is that you can borrow more than your vehicle is worth. Let’s say you’re refinancing an auto loan with a balance of $20,000. If your car’s book value is also $20,000, you’d be able to borrow up to $26,000.

The excess $6,000 can help you pay off higher-interest debt or fund a financial goal that may be more expensive to finance through other means.

Many Vehicle Loan Options

DCU offers the most impressive lineup of loan options of any company on our list. For regular auto financing, you can finance a purchase from either a dealer or a private party. Additionally, you can refinance loans from either DCU or other financial institutions.

Other loan options include lease buyouts, antique cars, and mobility vehicles. You won’t find some of DCU’s loan offerings with most providers. For example, its mobility vehicle loans lend you the money to buy or modify a vehicle to aid a person with disabilities.

Interest Rate Discounts

DCU may not offer the most competitive interest rates of any company on our list, with APRs starting at 5.24 percent, but many customers prefer to work with a credit union because of its not-for-profit status, focus on community, and generally low fees. If you’re getting a loan through DCU because of its other benefits, you’ll have the opportunity to lower your interest rate with the following discounts:

  • Membership discount: First, DCU offers a membership benefit discount, which allows you to save 0.50 percent on your loan interest rate. You’ll be eligible for this discount if you add and maintain direct deposit on your DCU checking account and/or make at least five transactions per month.
  • Electric vehicle discount: DCU’s other discount allows you to save 0.25 percent on your auto loan interest rate when you finance an energy-efficient vehicle, such as an electric vehicle.

If you’re financing a car over 72 months as a way to lower your monthly payment, these discounts can help make up for a slightly higher interest rate.

4. Best 72-Month Auto Loans for Excellent Credit - Upstart
Upstart Logo

What We Like Most:

  • Average customer saves $91 monthly
  • Co-owners allowed
  • Loans for vehicles with up to 120,000 miles

Upstart is an online loan aggregator that offers quick and affordable auto loan refinancing. While it doesn’t have as many loan options as some of the other companies on our list, it’s a popular choice for refinance loans and has helped more than 2.5 million customers to date.

ProsWho It's Best For
  • pro
    People who need to refinance car loans
  • pro
    Customers who want to be prequalified without hard credit checks
  • pro
    Borrowers of all credit profiles
  • pro
    People in every state except Iowa, Maryland, Nevada, and West West Virginia
ConsWho It's Not Best For
  • con
    Customers who want to avoid origination fees (some Upstart lenders charge them)
  • con
    People in Iowa, Maryland, Nevada, and West Virginia
  • con
    Borrowers who need to apply with cosigners
  • con
    People who want to borrow less than $9,000 or finance new cars

Easy Application and Approval Process

One of the things customers love most about Upstart is that it allows you to be prequalified and see your interest rates by completing a short form. Once you’re ready to apply for your loan, you’ll get an instant decision on your application. And once Upstart has approved your application, the company will fund your loan as quickly as one business day.

Upstart’s smooth and quick approval process is a nice perk for anyone applying for a loan, but it’s especially beneficial if you’re in a tough spot financially.

Let’s say you’re refinancing your loan because you can’t afford to make your loan payments. In that case, you probably want your loan funded as quickly as possible rather than having to wait days or weeks for the money to come through, which is exactly what you’ll get with an Upstart loan.

Loans for Borrowers With Poor or Fair Credit

According to Upstart, you may qualify for refinancing with a credit score as low as 510 and can apply even if you have a credit history that isn’t sufficient enough to produce a credit score.

Of course, even with a credit score that meets Upstart’s requirements, the company has other credit eligibility requirements. For example, Upstart will accept you as long as you haven’t had any bankruptcies within the past year, don’t have any accounts that are currently delinquent, and don’t have more than six inquiries on your credit report in the past six months.

Even though customers of any credit profile may be eligible, we think it’s a better choice for borrowers with poor or fair credit because of its loan accessibility. Upstart’s average auto loan interest rate is 14.02 percent, which is higher than many other companies. If you have good or excellent credit, you can likely qualify for a better rate elsewhere. However, if you have a low credit score and can’t qualify for a loan anywhere else, Upstart can be a good option.

Highly Rated Customer Service

If customer reviews are important to you, then Upstart may be a good option. The company has a rating of 4.9 out of five stars on Trustpilot. Out of more than 40,000 reviews, an impressive 97 percent of Upstart’s reviewers gave the company five stars.

In their reviews, many customers cited the easy application and approval process, plus Upstart’s responsive customer service. The company’s customer service options include email support and phone support during standard business hours.

5. Best 72-Month Auto Loans for New Cars - PenFed Credit Union
PenFed Credit Union Logo

What We Like Most:

  • Minimum APR is 3.44 percent
  • Loan terms available anywhere from 36 to 72 months
  • Average monthly savings is $334.17

Unlike the other companies on our list, PenFed Credit Union is a credit union with physical branches in the Washington, D.C. area. The company offers auto loan financing for new and used cars, as well as auto loan refinancing. Benefits include excellent customer service and large loan amounts.

ProsWho It's Best For
  • pro
    Existing PenFed members or those who want to become PenFed members
  • pro
    Customers who want loans ranging from $500 to $150,000
  • pro
    People buying new cars
  • pro
    Buyers who want to use the PenFed Car Buying Service
ConsWho It's Not Best For
  • con
    Borrowers who want the best interest rates
  • con
    Customers who don’t want to become PenFed members
  • con
    People who want lease buyouts
  • con
    Someone outside of D.C. who wants a physical branch

Flexible Loan Amounts

PenFed Credit Union offers the most flexible loan amounts of any company on our list. Its loan amounts range from $500 to $150,000.

First, most companies don’t offer auto loans lower than $5,000. Because of this, borrowers who need cheaper cars but can’t afford to pay cash may struggle to find financing. With PenFed, you can buy a car or refinance a loan even for a very small amount.

On the other end of the spectrum, PenFed offers loan amounts up to $150,000. Of course, most people aren’t buying cars for more than $100,000, since the average new car sells for $44,584.1 But those who are may struggle to find financing, since many lenders have lower maximum loan amounts. For this reason, PenFed is a great option for someone buying a brand-new, high-end vehicle.

If you buy a car at the higher end of PenFed’s range, the 72-month loan term can be especially beneficial. You’ll be able to spread your loan out over a longer period, which will lower your monthly payment.

PenFed Car Buying Service

A unique feature that PenFed offers is its PenFed Car Buying Service through TrueCar.2 With this service, you can shop for both new and used cars. You’ll choose the type of car you want, and the service will find one that’s available near you.

The PenFed Car Buying Service comes with several benefits. First, you can qualify for an interest rate discount that’s available only to buyers that use this service. For example, a new car loan from PenFed would normally have an interest rate starting at 5.84 percent. But when you use the car buying service, rates start at 5.59 percent.

Additionally, you can get members-only cash back from certain manufacturers. For example, as of February 2023, you can get a cash bonus of up to $2,000 when you buy a new Audi, $1,000 when you buy a new Mercedes-Benz, or $500 when you buy a new Dodge.

Additional Coverage Options

In addition to the standard perks that PenFed offers with its auto loans, there are a few add-ons you can purchase to make your loan even better:

  • Gap insurance: First, PenFed offers gap insurance. In other words, if you’re in a total loss accident and insurance pays you out for less than your remaining auto loan balance, your gap protection would cover the difference. The one-time cost of this coverage is $445, and it’s available for both new and used vehicles with loans of less than $100,000 and terms of fewer than 84 months.
  • Extended warranty: Next, PenFed offers an extended warranty with the same coverage as your manufacturer’s warranty for an additional six years, or until the vehicle reaches 100,000 miles. The warranty is available for models fewer than two years old and with fewer than 15,000 miles. The one-time cost of this coverage is $995.
  • Debt protection: Finally, PenFed offers a debt protection program, which kicks in if your family experiences a financial setback and can’t make your loan payment. The debt protection program applies in situations like death, disability, and involuntary unemployment. If one of these situations arises, PenFed will cancel your loan or monthly payments without a penalty. Here are the three plans available:
Coverage Plan 1 Plan 2 Plan 3
Death Yes Yes Yes
Disability Yes Yes No
Involuntary unemployment Yes No No
Cost per $1,000 of loan balance $2.10 $1.20 $0.88


While these add-ons will cost more money upfront, they can save you thousands of dollars, and points on your credit score, if you end up in a vehicle or financial emergency down the road.


When making our list of the best auto loan rates for 72-month auto loans, we looked for companies that offer low rates without sacrificing a variety of loan options (such as new car, used car, and refinance loans), high loan amounts, and competitive interest rates. We did a deep dive into each company’s loan offerings to learn about their auto loan options, terms available, interest rates, loan amounts, fees, and other ways to save.

Additionally, we rely partially on data from third-party companies, such as the Better Business Bureau and Trustpilot, to learn about each company’s customer service and ratings. Given the scope of this article, our first priority was making sure each company we chose offered auto loans with 72-month terms, without sacrificing affordable interest rates.


Let us do the math. Use our dealer vs bank financing calculator to learn which rate is best for you.

Frequently Asked Questions

What is a good interest rate on a 72-month car loan?

The average interest rate on a 72-month auto loan is 4.45 percent, as of January 2023. However, a good interest rate on a 72-month car loan for you depends on many factors, including your lender, loan amount, creditworthiness, and more.

Is it a good idea to do a 72-month car loan?

A 72-month car loan can be a good idea if the monthly payments fit best into your budget. Keep in mind, however, that 72-month loans generally have higher interest rates and will result in you paying more interest over the life of the loan.

Find out how much you’ll save if you increase your monthly car payments.

Who has the lowest car loan interest rates?

MyAutoloan has the lowest starting car loan interest rates, with rates starting at 2.49 percent, or 2.99 percent for 72-month loans. However, certain lenders may offer better rates to certain borrowers, so it’s important to shop around.

Can you finance a five-year-old car for 72 months?

Nearly all of the lenders and loan aggregators on the market offer used car auto loans for five-year-old cars for 72 months. In fact, 72 months is the most common loan term.


  1. Average New Car Price Sets Record. Kelley Blue Book. (2022, Dec 12).

  2. Home Page. PenFed Credit Union Car Buying Service by TrueCar. (2022).