72-month vs 84-month car loan
$58.65/month difference in monthly payment
$1,235 difference in total interest
72 months: $513.49 a month. 84 months: $454.84 a month.
Source: Federal Reserve G.19 average bank rates (May 2026): 48-month 7.47%, 60-month 7.14%; terms over 60 months use the 60-month rate. An average, not an offer.
Side by side
| 72 months | 84 months | |
|---|---|---|
| Amount borrowed | $30,000 | $30,000 |
| Rate | 7.14% | 7.14% |
| Monthly payment | $513.49 | $454.84 |
| Paid off in | 6 years | 7 years |
| Total interest | $6,971 | $8,206 |
Questions
Which has the lower monthly payment?
84 months, by $58.65 a month ($513.49 vs $454.84).
Which costs less overall?
72 months saves $1,235 in interest ($6,971 vs $8,206).
What rates are these figures based on?
Federal Reserve G.19 average bank rates (May 2026): 48-month 7.47%, 60-month 7.14%; terms over 60 months use the 60-month rate.
Can I compare a different amount?
Yes: change the amount above and press Compare. The page recalculates with the same rates.
Sources
- New-car loan, 60 months average: 7.14%. Federal Reserve G.19 Consumer Credit, terms of credit at commercial banks, series RIFLPBCIANM60NM, as of May 1, 2026; retrieved September 26, 2026.
Numbers on this page last changed September 26, 2026. How they are calculated: methodology.