Auto Loan
Calculate your car payment for a new or used vehicle.
The average new car loan in the US is $40,000 with a 5-6 year term and rates around 6-8% for good credit. Used car rates are typically 1-3% higher. A shorter term (36 months) means higher payments but thousands less in interest. Consider putting at least 20% down to avoid being upside-down on the loan. Gap insurance covers the difference between what you owe and what the car is worth if it is totaled.
Loan Details
Your Monthly Payment
$693
/month
Total Payment
$41,583
Total Interest
$6,583
Payoff Date
March 2031
Payoff Time
5y 0m
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