Buying a new car is exciting, even if you are not purchasing a brand-new vehicle. If this is something you want to purchase soon, have you considered how you will pay for it? If you choose to pay for it through an auto loan, you are not alone. According to one study, 107 million Americans have car loans right now. Using a car loan is a great way to purchase a car, but you will have options when it comes to the length of the loan you get.