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Free · New & used · Any APR

Auto loan calculator with extra-payment savings

Calculate your monthly car payment with any down payment, trade-in, and APR. See total interest paid across 3-, 4-, 5-, and 6-year terms for new or used cars.

2026 auto loan reality · Federal Reserve G.19 Consumer Credit · Experian State of Auto Finance
New 60-mo APR ≈ 7.2% · Used ≈ 11.4%
FRB G.19 commercial bank average for new vehicles sits near 7.2% in Q1 2026; used-vehicle financing remains stubbornly above 11%. The new-vs-used APR gap is the widest it's been since 2009.
Most calculators default to a single rate. We pre-load the new/used split because the buy-vs-finance decision flips entirely once you account for the 400+ bps spread.

The 20/4/10 rule

The classic affordable-car formula:

  • 20% minimum down payment
  • 4 years maximum loan term
  • 10% maximum total transportation cost (payment + insurance + gas) as a share of gross income

Most Americans break all three of these and end up upside down (owing more than the car is worth). Following 20/4/10 guarantees you stay in equity.

$30,000 auto loan by term and APR

Term5% APR7% APR10% APR
3 yr$899 ($2,366)$926 ($3,346)$968 ($4,847)
4 yr$691 ($3,159)$719 ($4,488)$761 ($6,529)
5 yr$566 ($3,968)$594 ($5,652)$637 ($8,245)
6 yr$483 ($4,793)$511 ($6,840)$556 ($9,996)
7 yr$424 ($5,634)$453 ($8,053)$498 ($11,789)

Format: monthly payment (total interest). 84-month loans cost 2× the interest of 36-month loans.

Dealer financing vs credit union

Credit unions and online lenders (Capital One Auto, LightStream) consistently offer 1–3% lower APRs than dealer financing. Get pre-approved before stepping on a lot — it becomes your ceiling. Let the dealer try to beat it; if they can, take it. If not, use your pre-approval.

Auto Loan Calculator FAQ

How much car can I afford?

Following the 20/4/10 rule: 20% down, 4-year max term, total transportation ≤10% of gross income. On $75k gross ($6,250/mo), max ~$625/mo for car payment + insurance + gas. That maps to about a $25k–$28k vehicle.

Should I lease or buy?

Buy if you drive 12k+ miles/year, keep cars 5+ years, or modify them. Lease if you want a new car every 3 years, drive under 12k miles, and value warranty coverage. Buying is almost always cheaper over a 10-year horizon; leasing trades higher long-run cost for lower current payment.

What's a good auto loan APR in 2026?

Excellent credit (740+): 5.5–6.5% on new, 6.5–8% on used. Good credit (680–739): 7–9% new, 8.5–10.5% used. Fair (620–679): 9.5–13% new, 11–15% used. Subprime (under 620): 15–22%+ — often more cost-effective to delay and rebuild credit.

Is 0% APR a real deal?

Usually yes, but limited to top credit tiers (760+) and specific models the manufacturer is pushing. Often the 0% requires you forgo a rebate ($2,000–$5,000) — calculate which is cheaper. 0% on the sticker often costs more than 6% APR + rebate.

Should I make a large down payment?

At least 20% to avoid being underwater (loan balance > car value). Cars depreciate 20% in year one — a 0% down 7-year loan stays upside down for 4+ years. If you total it during that period, GAP insurance fills the gap; otherwise you're paying off a wrecked car.

Can I refinance my auto loan?

Yes, anytime — and you should if rates drop 1%+ or your credit score improved 50+ points since origination. Lenders like LightStream, Capital One, and PenFed make this easy. Watch for prepayment penalties on the original loan (rare but possible).

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Methodology and editorial standards

Each calculator uses its own inputs and method. Review the labels, units and assumption notes shown with the result. Costs, taxes, fees, benefits and other factors are not modeled unless the page or calculator explicitly says they are. A fixed-rate projection is a scenario, not a forecast or personalized recommendation.

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