The best lender can offer your the lowest interest rate at the longest loan term. Most lenders only offer the lowest rates for the shortest loan terms. But if you can get the same rate for a longer term, consider this option. You have more time to repay your loan if you have economic hardship. But your total interest costs can be higher due to the longer repayment term. If rates are similar, you need to compare the major differences with each lender. Look for flexible repayment plans, deferment and forbearance in case something bad happens in your financial future.