Calculate your monthly car payment and total loan cost. Enter the vehicle price, down payment, trade-in value, loan term, and interest rate to see your exact monthly payment and total interest paid.
| Vehicle Price | Down Payment | Loan Amount | 48 mo @ 6% | 60 mo @ 6% | 72 mo @ 7% |
|---|---|---|---|---|---|
| $25,000 | $3,000 | $22,000 | $517/mo | $425/mo | $375/mo |
| $35,000 | $5,000 | $30,000 | $705/mo | $580/mo | $512/mo |
| $50,000 | $10,000 | $40,000 | $940/mo | $773/mo | $682/mo |
| Credit Score | New Car APR | Used Car APR |
|---|---|---|
| 781–850 (Super Prime) | 5.2% | 6.8% |
| 661–780 (Prime) | 6.4% | 8.5% |
| 601–660 (Near Prime) | 9.1% | 12.4% |
| 501–600 (Subprime) | 13.5% | 18.2% |
Source: CFPB Auto Loan Data. Average new vehicle transaction price 2026: ~$48,000 (source: BLS).
Your monthly car payment depends on the loan amount, interest rate (APR), and loan term. The formula divides the total cost of the loan (principal plus interest) into equal monthly payments. A higher APR or longer term increases total interest paid.
In 2026, average auto loan rates range from 5%–8% for buyers with good credit (700+). Buyers with excellent credit (750+) may qualify for rates under 5%. Rates above 10% typically indicate subprime credit. Credit unions often offer lower rates than dealerships.
A shorter loan term (36–48 months) means higher monthly payments but less total interest paid. A longer term (60–72 months) lowers monthly payments but significantly increases total cost. Most financial advisors recommend keeping auto loans under 60 months.
The interest rate is the base cost of borrowing. APR (Annual Percentage Rate) includes the interest rate plus any fees, making it the true cost of the loan. Always compare APRs, not just interest rates, when shopping for auto loans.