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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$45,000 car loan: payment by APR and term
| APR | 36 mo | 48 mo | 60 mo | 72 mo | 84 mo |
|---|---|---|---|---|---|
| 4% | $1,328.58 | $1,016.06 | $828.74 | $704.03 | $615.10 |
| 6% | $1,368.99 | $1,056.83 | $869.98 | $745.78 | $657.38 |
| 8% | $1,410.14 | $1,098.58 | $912.44 | $789.00 | $701.38 |
| 10% | $1,452.02 | $1,141.32 | $956.12 | $833.66 | $747.05 |
| 12% | $1,494.64 | $1,185.02 | $1,001.00 | $879.76 | $794.37 |
| 15% | $1,559.94 | $1,252.38 | $1,070.55 | $951.53 | $868.35 |
Worked example
At 8% for 60 months: $912.44 a month, $54,746 paid in total, of which $9,746 is interest. Stretching to 84 months drops the payment to $701.38 but raises interest to $13,916.
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 $45,000 car loan?
$912.44 a month for 60 months at 8% APR.
How much interest on a $45,000 car loan?
$9,746 over 60 months at 8%.