Auto Loan Calculator
Experian Q4 2025 avg new: $43,582.
Edmunds Q1 2026 avg: $6,206.
If your trade-in is underwater, enter a negative amount (Edmunds Q1 2026: 30.9% of trade-ins were negative-equity, avg −$7,183).
Experian Q4 2025 — New: super-prime 4.66%, prime 6.51%, deep-subprime 16.01%. Used prime 9.65%.
Experian Q4 2025 avg new term: 68.94 months.
Combined state + local. TX 6.25% · NYC 8.875% · CA 7.25–10.25% · FL 6.5–8.5% · MT/NH/OR 0%.
Roll sales tax into the loan?
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How to use
- 1 Enter the vehicle price (negotiated price before tax and fees).
- 2 Enter your down payment. The 20/4/10 rule recommends 20% down, 4-year max term, total transportation under 10% of gross income.
- 3 Enter trade-in value (and lien payoff if applicable). Some states give sales tax credit on the trade-in difference.
- 4 Enter the APR. Use 4–6% for super-prime, 6–8% for prime, 8–12% for near-prime, 12–18% for subprime. Pre-qualify with credit unions or LightStream to find your real rate before visiting a dealer.
- 5 Enter loan term in months (36, 48, 60, 72, 84). Longer = lower monthly but higher total interest. Avoid 84-month loans on cars depreciating fast.
About Auto Loan Calculator
FAQ
Q What is the average car loan rate in 2026?
Bankrate's April 2026 weekly survey shows about 7.02% for a 60-month new car loan. Used cars run 1–2 percentage points higher. Experian Q4 2025 shows super-prime (781+) at 4.66% and deep-subprime over 16% — a wide spread that makes credit score the single biggest factor in monthly payment.
Q How much should I put down on a car?
The 20/4/10 rule recommends 20% down on a new car (10% on used). Less than 20% leaves you immediately underwater after the year-1 depreciation. If 20% feels impossible, that's a signal to consider a less expensive car or buy used to avoid the steepest depreciation curve.
Q Should I get a 60-month or 72-month auto loan?
60 months is the longest most personal-finance guidance considers reasonable for a typical car. 72-month leaves you underwater into year 4–5 of the loan as depreciation outpaces principal payoff. 84-month loans (now offered by many dealers) are flagged by CFPB as predatory — total interest is 2× a 36-month at the same APR.
Q Should I finance through the dealer or my bank?
Pre-qualify with a credit union or online lender (LightStream, Auto Approve) before visiting the dealer. Dealers mark up the lender's rate as profit — typically 1–3 percentage points on top of the wholesale rate. Walk in with pre-approval, then let the dealer try to beat it. Most won't, and you save thousands over the loan.
Q How does my credit score affect my monthly payment?
Dramatically. On a $30,000, 60-month loan: 4.66% (super-prime) = $562/mo, $3,710 total interest. 16% (deep-subprime) = $730/mo, $13,800 total interest. Same car — $10,090 difference in interest paid. Improving your credit before buying is one of the highest-ROI financial moves available.
Q What's the difference between APR and interest rate on a car loan?
Interest rate is the cost of borrowing the principal. APR includes the interest rate plus required fees (origination, doc fees folded in by some lenders). For most US auto loans the two are close, but lenders are required by Truth in Lending Act to disclose APR — that's the comparison number to use.
Q Can I refinance my auto loan?
Yes. If your credit score has improved since purchase or rates have dropped, refinancing can save substantial interest. Best candidates: 12–24 months into a high-rate loan, with at least 12 months remaining. Credit unions and online lenders (RefiJet, Caribou, RateGenius) offer auto refinance with no application fee.
Q Are 0% APR auto loan offers really free?
Sometimes — for buyers with super-prime credit on slow-selling models. The trade-off is usually no manufacturer cash rebate. Often the 0% loan plus higher purchase price costs more than a regular loan with cash rebate at 6–7% APR. Ask the dealer to compare both scenarios in writing before signing.
Official resources
Federal Reserve G.19 — Consumer Credit
Authoritative US Federal Reserve report on consumer credit including auto loan rates.
CFPB — Auto Loans Resources
Consumer Financial Protection Bureau guide to auto loans, dealer markup, and refinancing.
Experian — State of the Auto Finance Market
Experian quarterly report on auto loan rates by credit tier and balance trends.
FRED — New Car 60-Month Loan Rate
St. Louis Fed FRED time series for new car 60-month loan finance rate.