Example rate. Use the APR from your lender or pre-approval for an accurate estimate.
Sales tax, fees and trade-in loan
Estimated monthly payment
$0
Compare loan terms
Amortization schedule
This calculator gives estimates for informational purposes only and is not a loan offer. Your actual rate, payment and terms depend on your credit, lender, location and final vehicle price.
Use this free car payment calculator with down payment and trade-in to estimate your monthly car payment, also called your car note. Enter the price, down payment, trade-in, interest rate and loan term, and you’ll see your payment, total interest and total cost in seconds. It works for new or used cars, from a bank, credit union or dealer.
Table of Contents
How to Use This Calculator
- Vehicle price — the negotiated price, not the sticker price, if you expect a discount.
- Down payment — every dollar you put down lowers both your monthly payment and total interest.
- Trade-in value — if you still owe money on it, open the advanced section and enter the remaining balance.
- Interest rate (APR) — depends mostly on your credit score, term, and whether the car is new or used. Use a pre-approval rate if you have one.
- Loan term — 36 to 84 months, or a custom term.
- Sales tax and fees — open the advanced section to add your state’s rate and title/registration/doc fees. (For state-specific numbers, see our Texas auto loan calculator or Oklahoma tag, title and tax calculator.)
Check the Compare Loan Terms table to see how a shorter or longer loan changes your payment, and the Amortization Schedule to see principal vs. interest over time.
How Much Should You Put Down on a Car?
A common guideline is 20% down on a new car and 10% on a used one. Most buyers put down less: in Q2 2026 the average new-car down payment was $5,815, just 11.6% of the purchase price, according to Edmunds.
Here is how your down payment changes the monthly payment on a $35,000 new car with a 60-month loan at 6.35% APR (the Q2 2026 average new-car rate from Experian), before taxes and fees:
| Down payment | Amount financed | Monthly payment | Total interest |
|---|---|---|---|
| $0 (0%) | $35,000 | $682 | $5,942 |
| $3,500 (10%) | $31,500 | $614 | $5,347 |
| $7,000 (20%) | $28,000 | $546 | $4,753 |
Each $1,000 you put down lowers this payment by about $19.50 a month. A trade-in works the same way: its value, minus anything you still owe on it, comes off the amount you borrow, and in most states it also lowers the sales tax you pay.
A bigger down payment also protects you from owing more than the car is worth, because cars lose value fastest in the first few years. See how fast yours will drop with our car depreciation calculator.
Car Payment Examples by Loan Amount
Estimated monthly payments at a 7% APR:
| Amount financed | 48 months | 60 months | 72 months |
|---|---|---|---|
| $20,000 | $478.92 | $396.02 | $340.98 |
| $25,000 | $598.66 | $495.03 | $426.23 |
| $30,000 | $718.39 | $594.04 | $511.47 |
| $40,000 | $957.85 | $792.05 | $681.96 |
| $50,000 | $1,197.31 | $990.06 | $852.45 |
How Your Credit Score Affects Your Interest Rate
According to Experian’s State of the Automotive Finance Market report for Q2 2026, the average rate was 6.35% for new car loans and 11.19% for used, with large differences by credit tier:
| Credit score | New car APR | Used car APR |
|---|---|---|
| Super prime (781–850) | 4.41% | 6.29% |
| Prime (661–780) | 6.15% | 8.81% |
| Near prime (601–660) | 9.71% | 13.93% |
| Subprime (501–600) | 13.52% | 19.10% |
| Deep subprime (300–500) | 16.11% | 21.62% |
Source: Experian, average auto loan rates by credit score (Q2 2026 data).
On a $30,000 new car loan over 60 months, a super prime borrower at 4.41% pays about $558/month ($3,484 total interest). A subprime borrower at 13.52% pays about $691/month ($11,436 total interest) — nearly $8,000 more for the same car.
Don’t Forget Sales Tax, Fees and Ownership Costs
Ask for the out-the-door price, which includes sales tax, title/registration fees, and dealer documentation fees — these vary by state and get financed (and charged interest) if you don’t pay them upfront.
After you buy, you’ll also pay for insurance, fuel and maintenance. See our car insurance calculator, fuel cost calculator and commute cost calculator. Comparing vehicles? Try the car comparison calculator, or browse good places to buy a used car online.
Tips to Lower Your Monthly Payment
- Get pre-approved before you shop — gives you a real rate to compare against the dealer’s offer.
- Make a bigger down payment — borrowing less lowers both payment and total interest, and protects against negative equity.
- Negotiate the price, not the payment — dealers can hit any monthly number by stretching the term. Agree on price first.
Frequently Asked Questions
What is a car note payment?
Another name for your monthly car loan payment — it includes principal and interest. Use the calculator above to estimate yours.
How accurate is a car loan estimate?
Very close if you enter your real price, taxes, fees and APR. The only big unknown is your rate — get pre-approved first, then use that rate here.
Does this calculator include taxes and fees?
Yes — open the advanced section to add your sales tax rate, title, registration and dealer fees. Many calculators leave these out, which understates your real payment.
Is a 60- or 72-month car loan better?
A 60-month loan costs less in total interest and builds equity faster. A 72-month loan lowers the monthly payment but raises total interest and the risk of owing more than the car is worth.
How much should I spend on a car if I make $70,000 a year?
A conservative guideline keeps total car costs (payment + insurance + fuel) under 10% of gross income — about $583/month on a $70,000 salary, pointing to a car price around $20,000–$25,000 with a solid down payment.
How much does a down payment lower a car payment?
On a 60-month loan at 6.35% APR, every $1,000 you put down lowers your payment by about $19.50 a month. So $5,000 down saves about $97 a month and roughly $850 in interest over the loan.
Is it better to put more money down on a car?
Usually yes, as long as you still keep an emergency fund. You borrow less, pay less interest and are less likely to owe more than the car is worth. If you got a very low promotional APR, keeping more cash and putting less down can make sense.
Disclaimer: This calculator and the examples on this page are estimates for informational purposes only and are not a loan offer or financial advice. Your actual rate, payment and terms depend on your credit, lender, location and final vehicle price. Interest rate averages are from Experian’s State of the Automotive Finance Market report (Q2 2026).
Last updated: September 2026
Sources and methodology
- Experian — Average car loan interest rates by credit score (Q2 2026)
- Auto Remarketing — Experian State of the Automotive Finance Market, Q2 2026
- Carscoops — Edmunds Q2 2026 new-car financing data (average down payment)
- Experian — State of the Automotive Finance Market (average auto loan rates)
The formula and data behind this tool are explained on How Our Calculators Work. Results are estimates for general information only and are not financial, tax or insurance advice. Last reviewed: September 30, 2026.
