cars, utes

Chris Reid Jul 3, 2023

We’re really spoiled for choice in our everyday lives wherever we go, aren’t we? Doing the weekly shop at the supermarket, there are more options for each product than there ever have been before.

Car financing is no different, either. There are dozens of lenders and hundreds of packages out there, each offering their own unique features across both secured and unsecured car loan types. Then, on top of all, that is the variety of loan durations that are available.

Assuming you’ve decided on whether you’re going with a secured or unsecured loan already (if not, give us a call on 1300 787 288 and we’ll walk you through both), you might be wondering which length of loan is going to work best for you.

To help you make a more informed decision, here are some pros and cons for you to weigh up when it’s time to choose your term.


Longer vs. shorter loan lengths

Going with a shorter loan length is going to save you money in the long term on interest paid. However, because you have fewer monthly repayments in total, each payment is going to be higher.

Conversely, the repayments of a longer loan length will be lower, but as you’re paying it off over more time you’ll be paying more in interest over the life of the loan.

It really comes down to how much you’re able to afford to pay each month without rocking the proverbial boat too much. If your budget allows you to pay more, it’s generally a good idea to go with a shorter length so you're minimising the total amount you pay back for the car. However, if you want to maintain a better cash flow and are happy to trade it off by paying more interest, you might want to look at a longer loan duration instead.


Chat with the Stratton Finance team for great deals

With over two decades of experience under our belt, you can rest assured that whatever loan length you’re after, we’ll help you find a great car financing deal available.

We’re able to do this because over the 20+ years we’ve been helping Aussies with financing, we’ve amassed a huge network of lenders. That means we have access to seemingly endless finance packages of all shapes and sizes, so we’ll always be able to find the perfect one to suit your needs.

Find out today what your repayments might look like by using our online car finance calculator - you’re sure to be more than happy with what you see!

And for any questions you may have or if you’d like our assistance in any way, call our friendly team now on 1300 787 288. Alternatively, you can send us an online enquiry and we’ll be in touch soon.

Looking for more information?

We've made it easy for you to find everything you need here.

EXCEPTIONAL, as good as Customer Service gets

I’ll keep this simple, if you want the BEST advice, the BEST service and the BEST product for your c... Product Review

Can't Recommend Highly Enough!!

Have purchased two vehicles through Stratton Finance and each time the service has been fantastic. S... Product Review

Stratton Finance A++

I've purchased 3 vehicles using Stratton and every time it has been hassle free. Not hidden nasties ... Product Review

Meet our partners

We partner with industry leaders to streamline the process, ensuring we get the keys in your hands more swiftly and efficiently.

Pepper Money








Thorn Group

Bank of Queensland


Get Capital



Capital Finance

Angle Finance


Metro Finance

Let's get started

Obligation free and no impact to credit score