Can I Pay for a Car in 60 Installments?

[Tyrone]

You can pay for a car in 60 installments. Here is the relevant information: Installment Period: The maximum installment period for car purchases is five years. Generally, the available installment terms are 6, 12, 24, 36, 48, and 60 months, with 60 months being the longest. One installment period equals one month, so 60 months is equivalent to 5 years. However, the most common term is 3 years, while 5-year terms are less common. This mainly depends on personal preference, and currently, most people prefer a 3-year installment plan for car purchases. Payment Methods: For installment car purchases, you can opt for credit card installment payments, which are more cost-effective compared to bank auto loans or financing through automotive financial companies. Typically, credit card installment payments require no collateral, charge no interest, and only involve a handling fee. Additionally, when purchasing or renewing insurance for a new car bought through credit card installments, there are no mandatory requirements. Generally, you only need to purchase major insurance types and theft insurance.