Auto Loan Calculator (USA)

Use our Auto Loan Calculator to estimate your monthly car loan payments, total interest payable, and loan repayment schedule. Plan your vehicle purchase with confidence!

Auto Loan Information
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Total: 60 months (5 years)
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About US Auto Loans

Direct Lending: You borrow money directly from a bank, credit union, or online lender. You then use those funds to pay for the car.

Dealer Financing: The dealership acts as an intermediary between you and a bank or finance company. Often convenient but may have higher rates.

Lease Buyout Loans: Used to purchase a vehicle at the end of a lease term.

Refinance Loans: Replace your current auto loan with a new one, usually to get a lower interest rate.

Loan Term: Typically ranges from 24 to 84 months. Shorter terms have higher payments but lower total interest.

APR (Annual Percentage Rate): The cost to borrow money, including interest and fees, expressed as a yearly rate.

Down Payment: A payment made upfront, typically 10-20% of the vehicle price. Larger down payments reduce loan amounts and monthly payments.

Gap Insurance: Covers the difference between what you owe on the loan and the car's actual value if it's totaled or stolen.

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Current Auto Loan Rates
Loan Type 36-Month Rate 60-Month Rate
New Car (Excellent Credit) 4.5% - 5.5% 5.0% - 6.0%
New Car (Good Credit) 5.5% - 6.5% 6.0% - 7.0%
Used Car (Excellent Credit) 5.0% - 6.0% 5.5% - 6.5%
Used Car (Good Credit) 6.0% - 7.0% 6.5% - 7.5%
Refinance (Excellent Credit) 4.0% - 5.0% 4.5% - 5.5%
Rates as of July 5, 2025. Rates vary by lender, credit score, and vehicle age.
Auto Loan Affordability
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Auto Loan Tips
  • 1. Aim for a credit score of 740+ for best rates
  • 2. Save at least 20% for down payment
  • 3. Compare rates from multiple lenders
  • 4. Shorter terms save on interest
  • 5. Get pre-approved before car shopping