Finanzas

Car Loan Monthly Payment Calculator

Calculate your exact auto loan monthly payment with sales tax, trade-in, and down payment. Average APR 2026: 7.5% new / 11.5% used.

🗓️ Updated June 2026 Reviewed by
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Buying a car? This calculator shows your exact monthly payment before you walk into the dealership. Enter the vehicle price, your trade-in value, down payment, local sales tax, loan term, and APR — and get your payment, total interest, and a full 12-month amortization schedule. Average new-car APR in 2026 is 7.5%; used-car APR averages 11.5% (Experian Q1 2026).

When to use this calculator

  • Budgeting before visiting a dealership
  • Comparing 48-month vs. 60-month vs. 72-month loan terms
  • Evaluating how much a trade-in reduces your monthly payment
  • Estimating total interest cost for new vs. used vehicle APRs
  • Checking whether a larger down payment is worth it
  • Planning a refinance by recalculating at a lower APR

U.S. Auto Loan Market Benchmarks — New vs. Used vs. Lease (Q1 2026)

Nationwide U.S. averages for new, used, and leased vehicle financing; use them as a sanity check against your own quote.

MetricNew VehicleUsed VehicleLease
Average APR6.39%11.43%—
Average monthly payment$770$531$613
Average amount financed$43,952$27,528—
Average loan term68.9 months67.7 months36.1 months
Most common terms60 & 72 months60 & 72 months36 months
Share with payment over $1,000/mo~19% of new loans——

Fuente: Experian State of the Automotive Finance Market, Q1 2026 (experian.com/automotive/automotive-credit) and Experian Q4 2025 lease data. Averages blend all credit tiers — your APR depends heavily on your credit score (see the table below). Longer terms (72–84 months) lower the monthly payment but raise total interest and the time spent in negative equity.

Average Auto Loan APR by Credit Score Tier (New vs. Used)

Average annual percentage rate by borrower credit tier; the gap between super-prime and deep-subprime is roughly 10–15 points.

Credit TierScore Range (VantageScore 4.0)New Car APRUsed Car APR
Super prime781–8505.18%6.82%
Prime661–7806.70%9.06%
Near prime601–6609.83%13.74%
Subprime501–60013.22%18.99%
Deep subprime300–50015.81%21.58%

Fuente: Experian State of the Automotive Finance Market, Q1 2025 (experian.com/blogs/ask-experian/average-car-loan-interest-rates-by-credit-score). Tiers use the VantageScore 4.0 model. The same vehicle can cost over 10 percentage points more in APR for a deep-subprime borrower than a super-prime one — use your tier's rate in the APR field above for a realistic payment.

How it works

What is a car loan monthly payment?

A car loan monthly payment is the fixed amount you pay each month to repay borrowed money for a vehicle purchase. It includes principal, interest, and taxes based on loan term and APR. On a $35,000 car at 7.5% APR for 60 months with $3,000 down, your payment is approximately $665 monthly, totaling roughly $4,900 in interest charges.

How the Formula Works

An auto loan uses the standard amortizing loan formula, which spreads equal payments across the loan term so that each payment covers accrued interest plus a portion of principal.

Step 1 — Calculate the Financed Amount

Sales tax is applied to the vehicle price (after deducting the trade-in in most U.S. states), then the down payment and trade-in are subtracted:

taxable_price   = vehicle_price - trade_in_value
tax_amount      = taxable_price × (sales_tax_rate / 100)
adjusted_price  = vehicle_price + tax_amount
financed_amount = adjusted_price - trade_in_value - down_payment

If financed_amount ≤ 0, no loan is needed.

Step 2 — Monthly Payment (PMT Formula)

r = APR / 100 / 12          (monthly interest rate)
n = loan_term_months

If r > 0:
  monthly_payment = financed_amount × [r(1+r)^n] / [(1+r)^n - 1]

If r = 0 (0% APR deal):
  monthly_payment = financed_amount / n

Step 3 — Totals

total_paid     = monthly_payment × n
total_interest = total_paid - financed_amount

Step 4 — Amortization (first 12 months)

Each month:

interest_portion  = remaining_balance × r
principal_portion = monthly_payment - interest_portion
remaining_balance = remaining_balance - principal_portion

Worked Example

InputValue
Vehicle price$35,000
Trade-in$0
Down payment$3,000
Sales tax8%
Term60 months
APR7.5%

  • Tax: $35,000 × 0.08 = $2,800

  • Adjusted price: $37,800

  • Financed: $37,800 − $3,000 = $34,800

  • r = 7.5% / 12 = 0.625% = 0.00625

  • Monthly payment ≈ $695.26

  • Total paid ≈ $41,715.60

  • Total interest ≈ $6,915.60

    • Limitations & When NOT to Rely Solely on This Tool

  • Dealer fees (documentation, destination, registration) are not included — these can add $500–$2,500 to the financed amount.

  • Sales tax rules vary by state: some states tax on the full price before trade-in (e.g., California), others after (e.g., most others). This calculator uses the post-trade-in method by default.

  • GAP insurance, extended warranties, and add-ons financed into the loan will increase the financed amount.

  • This tool does not account for prepayment penalties (rare on auto loans but verify your contract).

  • APR shown is the annualized cost of interest only; it may differ slightly from the Money Factor used in leases.
    • Disclaimer: Los resultados son orientativos y no constituyen asesoramiento financiero individualizado. Antes de tomar decisiones con impacto, consultá con un asesor financiero registrado en la CNV o contador público matriculado.

    Frequently asked questions

    What is the average car loan APR in 2026?
    According to Experian's Q1 2026 State of the Automotive Finance Market report, average APRs are approximately 7.5% for new vehicles and 11.5% for used vehicles. Super-prime borrowers (credit score 781+) often qualify for rates below 5%, while deep-subprime borrowers may see rates above 15%.
    Does a larger down payment significantly lower my monthly payment?
    Yes, but the effect is linear, not exponential. On a $30,000 loan at 7.5% APR for 60 months, increasing your down payment by $1,000 reduces the monthly payment by about $20. The bigger benefit of a larger down payment is reducing total interest paid and avoiding negative equity.
    Is a 72-month loan a good idea?
    A 72-month term lowers your monthly payment but substantially increases total interest. On a $30,000 loan at 7.5% APR, going from 60 to 72 months saves about $80/month but costs an extra $1,400 in interest. You also risk being 'underwater' (owing more than the car is worth) for longer.
    How does my trade-in affect the loan calculation?
    Your trade-in value reduces the amount you need to finance. In most states, it is deducted from the vehicle price before sales tax is calculated, which also lowers the tax you owe. A $5,000 trade-in on a $35,000 car saves you roughly $400 in sales tax at an 8% rate.
    What credit score do I need for the lowest car loan rates?
    Most lenders classify 'super-prime' as a FICO score of 781 or above, which typically qualifies for the lowest advertised APRs. Prime (661–780) borrowers pay 1–3 percentage points more on average. If your score is below 600, expect APRs of 14–20% from most lenders.
    Does this calculator account for sales tax on the trade-in?
    Yes. The calculator applies sales tax to the vehicle price minus the trade-in value (the most common U.S. method). California and a few other states tax the full vehicle price before the trade-in credit — check your state's DMV rules if you need exact figures.
    What is an amortization schedule and why does it matter?
    An amortization schedule shows how much of each monthly payment goes to interest vs. principal. In early months, most of your payment is interest. By month 12 on a 60-month loan at 7.5%, you've paid off only about 15% of the principal. This is important when deciding whether to pay off the loan early.
    Can I use this calculator to estimate a refinance?
    Yes. Enter your current remaining balance as the 'Vehicle Price', set trade-in and down payment to $0, set sales tax to 0%, and enter your new APR and remaining term. The result is your estimated new monthly payment after refinancing.
    Are dealer fees included in this calculation?
    No. Common dealer fees — documentation fee ($100–$900), destination charge ($900–$1,800), registration and title fees — are not included. Add these to the vehicle price or down payment field to get a more accurate financed amount.

    Methodology & trust

    Editorial

    Calculadora de finanzas revisada por el equipo editorial de Hacé Cuentas, contrastada con Experian State of the Automotive Finance Market Q1 2026, según nuestra política editorial y metodología.

    Updates

    Última revisión: June 22, 2026. Los parámetros se verifican periódicamente con las fuentes citadas.

    Privacy

    Calculations run 100% in your browser. We do not store or transmit your data.

    Limitations

    Indicative results. For critical decisions, consult a professional.

    📌 How to cite this calculator

    Rodríguez, M. (2026). Car Loan Monthly Payment Calculator. Hacé Cuentas. https://hacecuentas.com/car-loan-monthly-payment-calculator

    Contenido bajo licencia CC-BY 4.0 — reutilizable citando la fuente con enlace a Hacé Cuentas.

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