Calculate your monthly payment, total interest, and see your full amortization schedule.
| Term | Monthly Payment | Total Interest | Total Paid | vs 60 months |
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| Month | Payment | Principal | Interest | Balance |
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Enter the vehicle price and any down payment or trade-in value — these reduce the amount you need to finance. Add your expected interest rate (check with your bank or credit union before visiting the dealership) and choose a loan term.
As of early 2026, average new car loan rates run 6–8% APR for good credit (720+). Used car loans typically carry rates 1–3% higher. Credit unions often beat dealer financing by 1–2%.
A 36-month loan has higher monthly payments but dramatically less interest paid. A 72-month loan stretches payments but you may end up "underwater" (owing more than the car is worth) for years. Use the comparison table above to see the real tradeoffs.
A common guideline: put 20% down, finance for no more than 4 years, and keep total car costs under 10% of gross income. Most buyers violate at least one of these — knowing the rule helps you decide which tradeoffs you're comfortable with.
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