Auto Loan Calculator
Calculate your monthly car payment, total interest, and total cost of your auto loan.
Frequently Asked Questions
What is a good interest rate for a car loan?▾
A good auto loan rate depends on your credit score. Excellent credit (750+) can get rates around 3-5%, good credit (700-749) around 5-7%, and fair credit (650-699) around 7-10%. New cars typically get lower rates than used cars.
Should I choose a longer or shorter loan term?▾
Shorter terms (36-48 months) mean higher monthly payments but much less total interest paid. Longer terms (60-72 months) lower your monthly payment but you'll pay significantly more in interest and risk being upside-down on the loan.
How does a trade-in affect my car loan?▾
A trade-in reduces the amount you need to finance, lowering both your monthly payment and total interest paid. It works similarly to a down payment. Make sure to research your trade-in's fair market value before negotiating.