Car Loan Payment Calculator

The average new car loan in the US has a term of 69 months (5.75 years) and an interest rate of around 7–9%. Keep terms under 5 years when possible.

A larger down payment reduces your loan principal and monthly payment. Putting 20% down on a $35,000 car saves ~$100/month vs 0% down at 8%.

Longer loan terms (72–84 months) reduce monthly payments but cost significantly more in interest and risk "going underwater" on the loan.

Use the amortization table to see exactly how much equity you're building each year — important if you plan to sell or trade in the car early.