What this calculator shows you
- Payment Calculation
- Calculate monthly payments
- Interest Cost
- See total interest paid
- Term Comparison
- Compare different loan lengths
- Trade-in Value
- Factor in your trade-in
Choosing a Loan Term
Shorter terms (36-48 months) have higher payments but less interest. Longer terms (60-72 months) have lower payments but cost more overall. Avoid terms longer than the expected ownership period.
Getting the Best Rate
Check your credit score first. Get pre-approved from your bank or credit union before visiting dealers. Dealer financing is often marked up—negotiate or bring your own financing.
Questions people ask
What is a good auto loan rate?
Rates vary by credit score and term. Excellent credit (750+): 4-6%. Good credit (700-749): 6-9%. Fair credit (650-699): 9-14%. Shop multiple lenders to find the best rate.
How much car can I afford?
The 20/4/10 rule: 20% down payment, 4-year loan term max, total vehicle costs (payment + insurance) under 10% of gross income.
Education only, not personalized financial, tax or investment advice. Results are estimates based on the numbers you enter; real returns vary and losses happen.