There are lots of decisions involved in buying a vehicle, including whether 72-month Subaru financing is right for you or if you should consider different terms. It comes down to your budget and financial goals, so there’s no universal answer. Here are some pros and cons from your friends at Herb Gordon Subaru.
Advantages of 72-Month Subaru Financing
You can generally choose an auto loan term ranging between 36 and 84 months. When you opt for a longer term, like 72-month Subaru financing, you’ll have lower monthly costs than a shorter loan term, which affords you the flexibility of better cash flow throughout the loan. Many drivers find that a six-year loan is right for them as they calculate their entire automotive budget, which will include fuel, insurance, registration, and general maintenance.
Why Different Terms Might Be Better
The biggest disadvantage of 72-month Subaru financing is that you’ll likely pay more for the vehicle in the long run. The longer the loan term, the more interest you'll pay and the less of the principal you'll pay every month. If your budget allows for it, you might want to opt for a shorter loan term and higher monthly payments. As another option, you can start with a six-year loan and pay it off early if your financial position changes, generally without penalty (that can change if you refinance; always read your loan agreement before taking a step like this).
Explore Your Subaru Financing Options in Silver Spring, MD
Regardless of whether 72-month Subaru financing or other terms work best for you, one thing is certain: you’ll get an outstanding vehicle that you’ll look forward to driving every day. Visit our Subaru dealership in Silver Spring, MD today. Once you’ve picked your favorite model from our inventory, our finance experts will create a loan that’s right for you!
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