If you’re looking to get a car finance quote, there are a number of factors to consider. Firstly, you’ll want to consider what kind of car finance deal you want, as there are a number of different types.

The most popular options tend to be hire purchase (HP), personal contract plans (PCP) and personal contract hire (PCH). The right kind of car finance for you will depend on variables such as whether or not you want to own the car at the close of the term, as well as the kind of repayment terms that you need. Another major factor to consider is how many years a car loan term lasts.

How many years in a car loan term?

Car finance is becoming an increasingly popular way to purchase a vehicle. As an accessible, affordable way of paying off a car, car finance allows you to remain in control of your budget and know what you owe when. So, exactly how many years are in a car loan term?

According to Experian, the average length of a car loan for new vehicles has increased to 72 months, with the average length of a car loan for used vehicles growing similarly to 65 months. This marks a significant increase from the standard car loan periods, which usually consist of agreements of 24, 48 or 60 months.

The appeal of longer car loan terms tends to be the fact that monthly repayments will be lower. However, you’ll be making more of them, and you’ll therefore be paying more in interest, so it’s worth considering if a longer car finance term really is beneficial for you in the long run.

Secure your ideal car finance today

If you’re looking for car finance, contact My Car Credit on enquiries@mycarcredit.co.uk, We’ll assist you in establishing your car finance needs, including the length of the loan agreement, and help you to find a deal that matches your unique circumstances, even with a poor credit score.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating


  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed


  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs


  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit


  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past


  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan

X monthly repayments of

Typical rate

Loan amount

Total payable




*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!