🚗 Auto Loan Calculator
Estimate your monthly car payment and total interest.
Default reflects the national average for new-car loans (6.35%; used-car average is 11.19%) as of Sep 2026 (Experian State of the Automotive Finance Market, Q2 2026) — enter your own quoted rate for an accurate estimate.
How This Is Calculated
Your monthly payment uses the standard loan amortization formula, based on the amount financed (vehicle price minus down payment and trade-in value), your interest rate, and loan term.
Frequently Asked Questions
How does my credit score affect my auto loan rate?
Lenders use your credit score as a key factor in setting your rate — borrowers with excellent credit
typically qualify for rates well below the national average, while those with poor credit may see
rates significantly higher, especially on used-car loans.
Should I choose a longer or shorter loan term?
A shorter term means a higher monthly payment but less total interest paid. A longer term lowers your
monthly payment but increases total interest paid and raises the risk of owing more than the car is worth.
Guide: understanding your result
- Used-car loans typically carry higher rates than new-car loans (recently about 11.19% vs 6.35%, Experian State of the Automotive Finance Market, Q2 2026).
- Long terms (72–84 months) cut the payment but raise total interest and the risk of owing more than the car is worth.
- In most states sales tax is charged on the price after the trade-in value is subtracted.
Worked example
Financing $35,000 at 6.35%:
- 60 months: $682.36/month, $5,942 total interest
- 72 months: $585.85/month, $7,181 total interest
Stretching the term by one year saves $96.51 a month and costs $1,240 more overall.
Monthly payment per $10,000 financed
| Rate (APR) | 36 mo | 48 mo | 60 mo | 72 mo | 84 mo |
|---|---|---|---|---|---|
| 4.00% | $295 | $226 | $184 | $156 | $137 |
| 6.00% | $304 | $235 | $193 | $166 | $146 |
| 6.25% | $305 | $236 | $194 | $167 | $147 |
| 8.00% | $313 | $244 | $203 | $175 | $156 |
| 10.00% | $323 | $254 | $212 | $185 | $166 |
| 11.25% | $329 | $260 | $219 | $192 | $173 |
| 14.00% | $342 | $273 | $233 | $206 | $187 |
| 18.00% | $362 | $294 | $254 | $228 | $210 |
Common mistakes to avoid
- Negotiating the monthly payment instead of the vehicle price.
- Rolling negative equity from a current loan into the new one.
- Leaving taxes, title and registration out of the amount financed.
Official sources
Examples are calculated live from the same data the calculator uses and are for education only — they are not financial, tax or investment advice.
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