Vehicle Details
Enter your vehicle price and down payment
Loan Terms
Set your interest rate and loan duration
Taxes & Fees
Sales tax and dealer 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
Frequently Asked Questions
What is a good interest rate for an auto loan?
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.
Should I finance a new or used car?
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.
How does down payment affect my auto loan?
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.
What loan term should I choose?
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.
Should I include sales tax in my loan?
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.
What fees should I expect when buying a car?
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
What if you made a larger down payment?
See how increasing your down payment affects your monthly payment and total interest
Personalized Insights
2 insights based on your inputs
Strong Down Payment
Your 20% down payment is excellent! You'll have immediate equity and may qualify for better interest rates.
Budget Check
Your $558/month payment should be less than 10-15% of your monthly take-home pay. Don't forget to budget for insurance, fuel, and maintenance.
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How this works
Same amortization math as any fixed-term loan, with optional down payment, trade-in credit, and sales tax added to the financed amount per dealer convention.
What this tool can’t do
When to consult a professional
This is a software engineering tool, not financial advice. Run the math here, then take the result to a certified financial planner, CPA, or your bank before making a decision that materially affects your money.
Sources
- [1]Consumer Financial Protection Bureau (CFPB)Official sourceconsumerfinance.govAccessed Apr 21, 2026
US consumer finance regulator; authoritative on mortgage disclosures, APR rules, credit cards.
Full-stack software engineer specializing in embedded systems, web architecture, and AI/ML. Founder of Practical Web Tools. Built the gesture-controlled drone IP acquired by KD Interactive (Aura Drone, sold on Amazon).