The longer the term of the loan the longer it takes for the principal balance to go down. On a 72 month term your payment will be applied mostly to interest, keeping the amount of your loan close to where it started over time. However, a 48 month term’s payments will go more towards the principal of the loan.
This also creates opportunities for the member to trade it in without any negative equity. In many cases, having a shorter term will allow the member to trade in their vehicle and actually get more money for their trade than what they owe.