Auto Loan Calculator
See your true monthly payment, total interest and payoff — including tax, fees and trade-in.
Your numbers
Monthly payment
$595
over 60 months
Total interest
$5,797
Amount financed
$29,920
Insight — Stretching the term lowers the monthly payment but raises total interest. Try 48 vs 72 months to see the real cost of a longer loan.
What if Loan term changes?
| Loan term | Monthly payment |
|---|---|
| 36 mo | $927 |
| 48 mo | $719 |
| 60 mo · now | $595 |
| 72 mo | $513 |
| 84 mo | $455 |
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For context: industry figures (e.g. Experian's State of the Automotive Finance Market) put the average new-car loan near $40,000 and the average used-car loan near $26,000, with terms commonly 60–72 months. Enter your own price, rate and term above for your payment.
Good to know
Clear, practical answers about the auto loan calculator.
How is my monthly car payment calculated?＋
It uses standard loan amortization: the amount financed (price + sales tax − down payment − trade-in) is spread across the term at your APR. Early payments are mostly interest; later payments are mostly principal.
Does a longer loan term save me money?＋
No. A longer term lowers the monthly payment but increases total interest paid. A 72- or 84-month loan can cost thousands more than a 48- or 60-month loan on the same car.
What APR should I expect in 2026?＋
Rates depend heavily on credit score and lender. Buyers with strong credit often see rates several points below dealer financing — which is why comparing lenders before you sign typically saves the most.
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