The structure in which you repay the loan takes a few different factors into account:
- the deposit payment
- the length of the loan
- the loan’s interest rate.
The length of a loan is fairly standard across the industry and can range from 12-84 months (or one to seven years). Keep in mind, a longer-term loan will have lower repayment amounts but interest will have longer to accrue. Once you determine the best term for your situation, you’ll have a much better idea of what finance terms are acceptable to you. The interest rate accompanying your truck finance can vary depending on the type of loan you’re after and what institution is providing that loan.