Looking for an 84 month auto loan? This calculator will display your monthly payment and a full schedule of your upcoming principal and interest payments.

What Will My Monthly Auto Payment Be if I Take Out a 7-Year Car Loan?

Before buying a new car or used car, use our 84 month auto loan calculator to see what payments you can expect over the course of your 7-year loan term.

How the 84 Month Car Loan Calculator Works

This car loan calculator determines your monthly payment and displays a full repayment schedule based on your:

  • loan amount

  • interest rate, and

  • the total time period of your loan (i.e. loan term)

If you're still considering a variety of auto loan terms or prices, feel free to play around with several of these numbers. The 84 month auto loan calculator will work the same to calculate the variances.

Example of an 84 Month Car Loan

For example, if you plan to borrow $55,000 for a term of 84 months at an annual interest rate of 4.5%, then you will enter:

  • "$55,000" as the Loan Amount

  • "84 months" as the Term, and

  • "4.5%" as the Interest Rate

Here's how this will look when you enter the data into our 84 month loan calculator:

84 month auto loan example

If you took out a $55,000 new auto loan for an 84 month term at 4.5% interest, your monthly payment would be $764.51.

Although your monthly payments won't change during the term of your loan, the amount applied to principal versus interest will vary based on the amortization schedule. You can find your amortization schedule for your 84 month auto loan after running your calculation.

Advantages and Disadvantages of a 7-Year Car Loan

A long-term auto loan can make purchasing an expensive car seem more affordable. However, you should weigh the pros and cons to determine whether an 84-month auto loan is the right choice for you and your family.


  • You will have smaller monthly payments due to the longer loan term.

  • You will have financial flexibility by keeping your monthly car payments lower.


  • 84 month auto loans will have higher interest rates compared to shorter-term auto loans.

  • You can end up owing more on the car than it is worth (due to depreciation).

  • The warranty for your new car will expire prior to having the car paid off, meaning more car maintenance expenses.

84 Month Auto Loan vs. 72 Month Auto Loan

Both the 84 month auto loan and the 72 month auto loan are considered long-term loans, but the 84 month loan will likely have a higher interest rate.

Because both of these loans are long-term, your car will depreciate and you may end up owing more than the car is worth. Additionally, a new car warranty will expire in 3-5 years, leaving you with several years of car maintenance repairs as well as your monthly auto loan payment.

84 Month Auto Loan vs. 60 Month Auto Loan

Generally, the shorter the auto loan term, the lower your offered interest rate will be. A 60 month auto loan almost always offers lower interest rates than a 84 month auto loan, meaning more money in your pocket (instead of the lenders).

New cars rapidly depreciate in value as soon as you drive them off the lot. Therefore, an 84 month auto loan or a 60 month auto loan could mean the difference between getting “underwater” with your car loan (ie. owing more than it’s worth) or not.

While an 84 month car loan may give you a lower monthly payment, most warranties expire around the 3-5 year mark. This means you’ll need to plan for additional car repairs during the last few years you’re paying off the car.

You can easily compare an 84 month auto loan to a 60 month auto loan by using our 60 month auto loan calculator.