Auto Loan Calculator

How to use the auto loan calculator

Enter the vehicle price, your down payment, the value of any trade-in vehicle, the loan's APR, your local sales tax rate, and the loan term in years. The calculator handles the math: it adds sales tax to the price, subtracts your down payment and trade-in, and shows your monthly payment, total interest, and the true total cost of the vehicle.

Average auto loan rates (2026)

• New car loan: 6.5%–8.5% APR
• Used car loan: 9%–13% APR
• Excellent credit (750+): 5%–6.5% APR
• Poor credit (below 600): 15%–25%+ APR

How to save on your car loan

• Make a 20% down payment — this prevents being "underwater" on the loan.
• Keep the term at 60 months or shorter — longer terms mean lower payments but much higher total interest.
• Get pre-approved before visiting the dealer — you'll know your rate and can negotiate as a cash buyer.
• Refinance later if rates drop or your credit improves.

Don't forget the true cost of ownership

The monthly payment is only part of car ownership. Budget for insurance (averaging $150–$200/month), fuel, maintenance, registration, and depreciation. A new car loses 20%–30% of its value in the first year alone — buying a 2–3 year old used vehicle lets someone else take that depreciation hit.