Auto Loan Calculator — Monthly Car Payment
Estimate your monthly car payment from vehicle price, down payment, trade-in, loan term, APR, and sales tax. See total interest paid over the life of the loan.
Net trade-in credit after any payoff on a previous loan.
Your state + local rate. Leave 0 to ignore.
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Frequently asked questions
What is a good auto loan rate?
Rates depend heavily on credit score. Experian's Q4 2024 data shows roughly 5.25% for excellent credit (720+), 6.7% for prime (660-719), 9.7% for nonprime (620-659), and 13%+ for subprime new-car loans. Used cars typically run 1-2 percentage points higher than new.
How does a trade-in affect my payment?
Trade-in value reduces your loan amount dollar-for-dollar, just like a larger down payment. A $5,000 trade-in on a 60-month, 6.5% APR loan saves about $98/month and roughly $880 in total interest. Some states also let you deduct trade-in value from the taxable price.
Should I choose a longer loan term?
Longer terms (72-84 months) lower your monthly payment but cost more in total interest and increase the time you're underwater on the loan. On a $30,000 loan at 6.5%, a 60-month term costs about $5,200 in interest; an 84-month term costs about $7,400 — $2,200 more for $100/month savings. Cars depreciate faster than long loans amortize.