The hillcrest credit union charged more for a 6-year car loan then for a 3-year car loan l what accounts for the difference?

The difference in interest rates for a 6-year car loan compared to a 3-year car loan typically stems from the increased risk associated with longer loan terms. Lenders often charge higher rates for longer loans because the borrower may be more likely to default over an extended period. Additionally, the longer repayment duration may lead to greater depreciation of the vehicle, increasing the lender's risk. As a result, lenders seek to mitigate these risks by charging higher interest rates for longer-term loans.