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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$10,000 car loan: payment by APR and term
| APR | 36 mo | 48 mo | 60 mo | 72 mo | 84 mo |
|---|---|---|---|---|---|
| 4% | $295.24 | $225.79 | $184.17 | $156.45 | $136.69 |
| 6% | $304.22 | $234.85 | $193.33 | $165.73 | $146.09 |
| 8% | $313.36 | $244.13 | $202.76 | $175.33 | $155.86 |
| 10% | $322.67 | $253.63 | $212.47 | $185.26 | $166.01 |
| 12% | $332.14 | $263.34 | $222.44 | $195.50 | $176.53 |
| 15% | $346.65 | $278.31 | $237.90 | $211.45 | $192.97 |
Worked example
At 8% for 60 months: $202.76 a month, $12,166 paid in total, of which $2,166 is interest. Stretching to 84 months drops the payment to $155.86 but raises interest to $3,092.
Rates in the tables are a range for comparison, not current market quotes. Payments are principal and interest only unless stated.
Frequently asked questions
What is the payment on a $10,000 car loan?
$202.76 a month for 60 months at 8% APR.
How much interest on a $10,000 car loan?
$2,166 over 60 months at 8%.