The majority of car loan lenders in Australia offer a maximum term of up to seven years, although borrowers often choose loans in the three to four year range. Some lenders do offer car loan terms as long as 12 years, after which your new wheels may be on its last legs. When it comes to determining the length of a car loan, it’s important to understand the longer the car loan term, the lower your monthly repayments will be - yet the greater amount of interest you will be charged over the life of the loan.