Auto Loan Calculator
Calculate your car loan payments, total interest, and compare financing options. Includes trade-in value, down payment, sales tax, and fees.
Auto Loan Summary
Monthly Payment
$558
Total Interest
$4,958
Vehicle Details
Loan Terms
Taxes & Fees
Cost Breakdown
Loan Balance Over Time
Term Comparison
| Term | Monthly | Total Interest | Total Cost |
|---|---|---|---|
| 36 months (3 years) | $873 | $2,946 | $40,983 |
| 48 months (4 years) | $676 | $3,942 | $41,980 |
| 60 months (5 years) | $558 | $4,958 | $42,996 |
| 72 months (6 years) | $479 | $5,994 | $44,031 |
| 84 months (7 years) | $423 | $7,050 | $45,087 |
Auto Loan Summary
Monthly Payment
$558
Total Interest
$4,958
Quick Answer
To calculate auto loan payments, enter the vehicle price, down payment, loan term, and interest rate into our free calculator at practicalwebtools.com. The calculator instantly shows your monthly payment, total interest cost, and total amount paid. Knowing your payment before visiting the dealership helps you negotiate better and stay within budget.
Key Facts
- Average new car loan rate in 2025: 7.1% for excellent credit, 11.5% for average credit
- Average used car loan rate: 11.5% for excellent credit, 17.5% for average credit
- Most common auto loan terms: 36, 48, 60, 72, and 84 months
- Longer terms lower payments but increase total interest by thousands
- Down payment of 20% helps avoid being underwater on your loan
- Trade-in value can be used as part of your down payment
- GAP insurance recommended if financing more than car value
Frequently Asked Questions
Interest rates vary based on credit score, loan term, and vehicle type. As of 2024-2025, excellent credit (750+) typically qualifies for 4-6% on new cars, while average credit (650-699) sees 8-12%. Used cars usually have slightly higher rates than new vehicles.
New cars have lower interest rates but depreciate faster (20-30% in year one). Used cars cost less but may have higher rates and maintenance costs. Consider total ownership costs, not just purchase price, when making your decision.
A larger down payment reduces your loan amount, lowering monthly payments and total interest paid. Most experts recommend at least 20% down for new cars and 10% for used cars to avoid being "underwater" on your loan.
36-48 month terms offer the best balance of affordable payments and lower total interest. 60-72 month terms have lower payments but significantly more interest. Avoid 84+ month loans as you risk owing more than the car is worth.
Including sales tax in your loan increases total interest paid but may be necessary if you cannot pay it upfront. Sales tax varies by state (0-10%+). If possible, pay sales tax separately to reduce your loan balance.
Common fees include documentation fees ($100-500), registration ($50-500), dealer preparation ($200-1000), and title fees ($15-100). Some are negotiable. Always ask for a breakdown of all fees before signing.
Auto Financing Tips
Before You Buy
- • Check your credit score before shopping
- • Get pre-approved from your bank or credit union
- • Research fair market value for the vehicle
- • Set a total budget including insurance costs
Saving Money
- • Make a larger down payment (20%+ recommended)
- • Choose a shorter loan term (48-60 months)
- • Consider certified pre-owned vehicles
- • Negotiate the total price, not monthly payment
Auto Loan Summary
Monthly Payment
$558
Total Interest
$4,958