When you buy a car, the initial purchase comes with ongoing expenses. The two major ongoing expenses for most drivers are car payments and insurance premiums. Here’s what you should know about each if you’re going to buy a car: Car Payments’ Influences, Options & Solutions Assuming you finance or lease when you buy a car, you’ll have an ongoing monthly car payment for the duration of the agreement. While there are always some less-common agreements, most financing is done over 24, 36, 48. 60, 72 and 84 months. Leases commonly run 24 or 36 months, but there also are shorter and longer options available. How much your car payment is during this time depends on a few different factors: What