Where do these numbers come from?
- Standard formulasAmortization M = P·r(1+r)^n / ((1+r)^n − 1) and monthly compoundingreviewed Oct 23, 2026
- Freddie MacPMMS mortgage-rate benchmarkweek of Oct 22, 2026
Checked Oct 23, 2026. $320,000 at 6.5% over 360 months: this calculator gives $2,022.62 a month and =PMT(6.5%/12; 360; -320000) in LibreOffice Calc (same PMT as Excel and Google Sheets) returns 2,022.62.
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By amount
- $10,000 car loan
- $15,000 car loan
- $20,000 car loan
- $25,000 car loan
- $30,000 car loan
- $35,000 car loan
- $40,000 car loan
- $45,000 car loan
- $50,000 car loan
- $55,000 car loan
- $60,000 car loan
- $65,000 car loan
- $70,000 car loan
- $75,000 car loan
- $80,000 car loan
Rates in the tables are a range for comparison, not current market quotes. Payments are principal and interest only unless stated.
Worked example
A $35,000 loan at 7% APR over 60 months costs $693.04 a month and about $6,583 in interest. A trade-in or down payment reduces the amount financed, and in most states a trade-in also lowers the taxable price.
A common guideline
The 20/4/10 guideline suggests at least 20% down, a term of no more than 4 years, and total car costs under 10% of gross income. Longer 72- and 84-month terms lower the payment but cost more interest and can leave you owing more than the car is worth.
Frequently asked questions
How long should a car loan be?
Shorter terms cost less interest; 84-month loans lower the payment but raise total interest and the risk of owing more than the car is worth.
Are taxes and fees included?
Only if you add them to the amount financed.
Does a bigger down payment lower the rate?
It can; lenders often price loans by loan-to-value as well as credit score.