Car Loan Calculator
Car Loan Calculator
Dealer fees, registration, documentation, etc.
How to Use This Car Loan Calculator
"Enter the vehicle price, down payment, trade-in value, tax rate, loan term, and APR to estimate your monthly payment, total interest, and total cost over the life of the loan."
Related Guides
Frequently Asked Questions
What is a good interest rate for a car loan?
As of 2026, average new car loan rates range from 6–8% for buyers with good credit (700+). Used car loans typically run 1–3% higher. Buyers with excellent credit (750+) may qualify for rates as low as 4–5%.
How much should I put down on a car?
Aim for at least 20% down on a new car and 10% on a used car. A larger down payment reduces your monthly payment, lowers total interest, and helps you avoid being "underwater" on the loan.
What loan term should I choose?
Shorter terms (36–48 months) mean higher monthly payments but significantly less interest paid. Longer terms (60–84 months) lower your payment but cost much more in interest and increase the risk of negative equity.
Should I finance through a dealer or my bank?
Always get pre-approved by your bank or credit union before visiting a dealership. This gives you a baseline rate to negotiate against. Dealers sometimes offer promotional rates that can beat bank rates — compare both.