Auto Loan Calculator USA — Calculate Your Monthly Car Payment
Free auto loan calculator for US car buyers. Calculate monthly payments for new and used cars with different down payments interest rates and loan terms.
Buying a car in the US typically involves financing with an auto loan. The average new car price exceeded $48000 in 2025 and used car prices remain elevated making it essential to understand your monthly payment before visiting the dealership. Our auto loan calculator factors in the vehicle price down payment trade-in value interest rate and loan term to show you the exact monthly payment and total interest cost.
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Key Information
| Parameter | Details |
|---|---|
| Average New Car Loan Rate | 6.5% - 8% (2026) |
| Average Used Car Rate | 8% - 12% (2026) |
| Common Loan Terms | 36, 48, 60, 72 months |
| Average Down Payment | 10% - 20% of vehicle price |
Calculate your auto loan payment
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Use Calculator NowFrequently Asked Questions
What is a good interest rate for a car loan in 2026?
A good auto loan rate in 2026 depends on your credit score. Excellent credit (750+) can get rates of 4-6%. Good credit (700-749) typically gets 6-8%. Fair credit (650-699) sees rates of 8-12%. Below 650 rates can exceed 12-15%. Credit unions often offer rates 1-2% lower than banks and dealership financing for the same credit profile.
Should I choose 60 or 72 month auto loan?
A 60-month (5-year) loan has higher monthly payments but costs significantly less in total interest. On a $35000 loan at 7% interest the 60-month option costs $5827 in total interest while the 72-month option costs $7096 — that is $1269 more. Additionally longer loans increase the risk of being underwater where you owe more than the car is worth.
How much car can I afford on $60000 salary?
Financial experts recommend spending no more than 10-15% of your gross monthly income on car payments. On a $60000 salary ($5000/month) your car payment should be $500-$750. At 7% interest for 60 months this allows a loan of $25000-$37000. With a $5000 down payment you could afford a $30000-$42000 vehicle.
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Last updated: 24 March 2026