Auto Loan Calculator
Use this free calculator to get instant results based on current 2025 rates.
Monthly Payment
$591.77
$5,506.20 total interest over 60 months
| Breakdown | Amount |
|---|---|
| Vehicle Price | $35,000.00 |
| Down Payment | $5,000.00 |
| Loan Amount | $30,000.00 |
| Monthly Payment | $591.77 |
| Total Paid | $35,506.20 |
| Total Interest | $5,506.20 |
How Auto Loans Work
An auto loan uses the same amortization formula as a mortgage but with shorter terms — typically 36 to 72 months. Each monthly payment covers interest on the remaining balance plus a portion of principal. New car loans generally have lower rates than used car loans.
The average new car loan rate in 2025 is approximately 6.84%. Used car rates average 1-2% higher. Your actual rate depends on your credit score, loan term, and lender.
Example: $30,000 Car at 6.84%
36 months: $925/month, $3,312 total interest.
60 months: $592/month, $5,524 total interest.
72 months: $510/month, $6,728 total interest. The longer term saves $415/month but costs $3,416 more in interest.
Frequently Asked Questions
How does this calculator work?
Enter your values and the calculator instantly shows results based on current rates and standard formulas. All calculations run in your browser.
Are the results accurate?
Results are estimates based on published federal rates. Your actual figures may differ based on state taxes, credits, deductions, and individual circumstances.
Is this free to use?
Yes. All calculators on US Money Tools are completely free with no registration required.
Do you store my data?
No. All calculations run entirely in your browser. We do not collect, store, or transmit any values you enter.
Important Disclaimer
The figures provided by this calculator are estimates based on the information you enter and published rates at the time of writing. They do not constitute financial, tax, or legal advice, and we accept no liability for decisions made on the basis of these estimates. Your actual liability may differ depending on your individual circumstances, applicable reliefs, and any changes to rates or legislation. Always consult a qualified professional or check the latest IRS guidance at irs.gov before making financial decisions.
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