One problem with longer car loans is the fact that you often wind up “underwater” or "upside down" on your loan. This is because cars tend to depreciate faster than you can pay off your loan.
A 72-month car loan means you’re paying off your loan more slowly and have the potential to owe more than your car is worth. However, longer car loans let you secure a more affordable monthly payment, which is likely an important consideration for your budget.