Precision Utility
Auto Loan
Calculator
Avg New Car Rate
6.0%
Avg New Car Price
$48k
Estimate your monthly auto loan payment in seconds. Enter the vehicle price, down payment, interest rate and loan term to see your monthly payment, total interest paid and total cost of the loan. Whether you're financing a new or used car, this calculator helps you compare different terms from 12 to 84 months so you can find a payment that fits your budget.
Loan Parameters
Estimated Monthly Payment
$0.00
Monthly Payment
$0.00
Total Interest
$0
Total Cost
$0
Loan Amount
$0
How the auto loan calculator works
Start by entering the vehicle price — the total sticker price or negotiated purchase price of the car. Next, enter your down payment, which is the cash you'll pay upfront. The calculator subtracts your down payment from the vehicle price to determine your loan amount.
Set the annual interest rate your lender has quoted you, or use the slider to explore different rate scenarios. Then choose your preferred loan term using the month buttons. Common auto loan terms range from 36 months (3 years) to 72 months (6 years), though some lenders offer 84-month terms.
The calculator uses the standard amortization formula to compute your fixed monthly payment. It also shows the total interest you'll pay over the life of the loan and the total cost (loan amount plus interest). Adjusting the term lets you instantly see how a shorter or longer loan changes your monthly payment and total interest.
What you need to know about auto loan rates in 2025
Auto loan rates in 2025 vary significantly based on whether the vehicle is new or used, your credit score and the loan term you select. Here's what to expect:
New car loan rates average between 5% and 7% for borrowers with good to excellent credit (720+ FICO score). Some manufacturers offer promotional rates as low as 0% APR on select models, though these deals typically require strong credit and shorter loan terms.
Used car loan rates are generally 1-2 percentage points higher than new car rates. For a borrower with good credit, expect rates around 7-9% on a used vehicle. The age and mileage of the car can also influence the rate a lender offers.
Your credit score is the single biggest factor in the rate you'll receive. Borrowers with excellent credit (750+) may qualify for rates under 5%, while those with fair credit (620-679) could see rates of 10% or higher. Before applying, check your credit report for errors and consider improving your score if possible.
Loan term also affects rates. Shorter terms (36-48 months) often carry lower interest rates than longer terms (72-84 months). While a longer term reduces your monthly payment, it increases the total interest paid and the risk of owing more than the car is worth.
Frequently asked questions
How do I calculate my monthly auto loan payment?
Enter the vehicle price, your down payment, the interest rate and your preferred loan term into the calculator above. It uses the standard amortization formula to compute your fixed monthly payment, total interest and total cost instantly.
What is the average auto loan interest rate in 2025?
As of 2025, average new car loan rates range from 5% to 7% for borrowers with good credit. Used car loan rates are typically 1-2 percentage points higher. Your actual rate depends on your credit score, loan term, lender and whether the vehicle is new or used.
What auto loan term should I choose?
Shorter terms like 36 or 48 months mean higher monthly payments but significantly less total interest. Longer terms like 72 or 84 months reduce monthly payments but increase total cost. Most financial experts recommend keeping auto loans at 60 months or less.
How much should I put down on a car?
A down payment of 10-20% is recommended for a new car. For used cars, aim for at least 10%. A larger down payment reduces your loan amount, lowers monthly payments and helps you avoid being upside down on the loan.
What is the difference between new and used auto loan rates?
New car loans typically carry lower interest rates than used car loans because new vehicles are seen as lower risk by lenders. In 2025, the difference is usually 1-2 percentage points. Some manufacturers also offer promotional 0% APR financing on new models.
How does my credit score affect my auto loan rate?
Credit score has a major impact on your auto loan rate. Borrowers with scores above 720 typically qualify for the best rates around 4-5%. Scores between 620-679 may see rates of 8-12%, while scores below 620 can face rates of 14% or higher.