Should I finance through the dealer or my bank?

Shop both options. Dealers sometimes offer promotional rates, but banks and credit unions often have competitive rates. Get pre-approved from your bank first to have a baseline for comparison.

How much should I put down on a car?

For new cars, 20% down is recommended; for used cars, 10% minimum. A larger down payment reduces your monthly payment, total interest paid, and helps avoid being "upside down" on the loan.

What is the ideal auto loan term?

While longer terms (6-7 years) offer lower payments, they cost more in interest and keep you underwater longer. 3-5 years is typically optimal, balancing payment size with total cost.

Should I lease or buy?

Buying is better if you keep cars long-term, drive more than 15,000 miles/year, or want to build equity. Leasing offers lower payments and newer cars but has mileage restrictions and no ownership.

Auto Loan Calculator – Car Payment Calculator

Calculate your car loan payments with our auto loan calculator. Include trade-in value, down payment, and get instant results.

Auto Loan Calculator – Car Payment Calculator

Calculate your car loan payments with our auto loan calculator. Include trade-in value, down payment, and get instant results.

Vehicle Price*

Total price of the vehicle

Down Payment

Cash down payment

Trade-in Value

Value of trade-in vehicle

Interest Rate (%)*

Annual interest rate

Loan Term (years)*

Length of the auto loan

$400

Monthly Payment

Down Payment

Trade Value

Financed

Interest

$25,000

Vehicle Price

Understanding Auto Loans

An auto loan calculator helps you determine your monthly car payment based on the vehicle price, down payment, trade-in value, interest rate, and loan term. This helps you budget for your vehicle purchase and compare financing options.