Car Loan Monthly Payment Calculator
See the exact monthly payment for any car price, rate, and term. Includes a full payment table from $15k to $50k, answers to the most-searched car loan questions, and the average car payment in 2026.
Quick Answers (60-month term, 6% rate)
$15,000 @ 6% for 60 mo
$290/mo
$20,000 @ 5% for 60 mo
$377/mo
$25,000 @ 7% for 60 mo
$495/mo
$30,000 @ 6% for 60 mo
$580/mo
$35,000 @ 6.5% for 60 mo
$685/mo
$50,000 @ 6% for 60 mo
$967/mo
Calculate Your Car Payment
Monthly Payment Table — All Loan Amounts
Principal & interest only. Based on 60-month (5-year) term with 20% down payment. Excludes sales tax and fees.
| Loan Amount | 5% Rate | 6% Rate | 7% Rate | 8% Rate |
|---|---|---|---|---|
| $15,000 | $283/mo | $290/mo | $297/mo | $304/mo |
| $20,000 | $377/mo | $387/mo | $396/mo | $406/mo |
| $25,000 | $472/mo | $483/mo | $495/mo | $507/mo |
| $30,000 | $566/mo | $580/mo | $594/mo | $608/mo |
| $35,000 | $660/mo | $677/mo | $693/mo | $710/mo |
| $40,000 | $755/mo | $773/mo | $792/mo | $811/mo |
| $50,000 | $944/mo | $967/mo | $990/mo | $1,014/mo |
P&I only — excludes sales tax, insurance, registration. Use the calculator above for a full breakdown.
$30,000 Loan — Payment by Term Length
Same loan amount, same 6.5% rate — different term lengths. Shows the monthly payment vs total interest trade-off.
36 months (3 yr)
$919/mo
Interest paid: $3,101
48 months (4 yr)
$711/mo
Interest paid: $4,150
60 months (5 yr) ★
$587/mo
Interest paid: $5,219
72 months (6 yr)
$504/mo
Interest paid: $6,309
84 months (7 yr)
$445/mo
Interest paid: $7,421
Payment With No Down Payment
$30,000 car → $6,000 down → $24,000 loan at 6.5%, 60 mo
$30,000 car → $0 down → $30,000 loan at 6.5%, 60 mo
No down payment warning: With $0 down on a new car, you're immediately "underwater" — your car depreciates 15–25% in year one while you've paid down very little principal. If you need to sell or the car is totaled, you may owe more than it's worth.
Average Car Loan Payment in 2026
New Car
$738/mo
Avg loan: $40,634
Avg rate: 7.1%
Avg term: 68 months
Used Car
$523/mo
Avg loan: $26,091
Avg rate: 11.3%
Avg term: 67 months
Recommended Target
≤15% of take-home/mo
Avg loan: —
Avg rate: < 7%
Avg term: ≤ 60 months
Sources: Experian State of Automotive Finance, 2025 Q4. The "recommended" column is a personal finance guideline, not an industry average.
Frequently Asked Questions
At 6% interest for 60 months (5 years): $386/month. At 5%: $377/month. At 7%: $396/month. At 8%: $406/month. These are principal & interest only — add sales tax to the loan if applicable. Use the calculator above for your exact scenario.
At 6% for 60 months: $580/month ($34,799 total). At 6.5%: $587/month. At 7%: $594/month. At 7.5%: $601/month. For a 72-month term at 6%: $497/month (but you pay $5,800 more in total interest compared to 60 months).
At 6% for 60 months: $966/month ($57,966 total). For 72 months: $828/month ($59,613 total — $1,647 more in interest). For 48 months: $1,174/month ($56,361 total — $1,605 less interest than 60 months). The 60-month term is the standard sweet spot.
With no down payment, you finance the full vehicle price plus sales tax and fees — often 8–12% more than a 20%-down scenario. On a $30,000 car with 7% sales tax and no down payment: loan amount is ~$32,100, payment is ~$635/month at 6.5% for 60 months. With 20% down ($6,000), the payment drops to ~$506/month.
As of 2025–2026, the average new car payment is approximately $730–$750/month on a ~$40,000 loan at 6.5–7.5% over 68 months. Used car buyers average $510–$530/month on ~$26,000 loans at 10–12% over 67 months. Financial advisors recommend keeping your car payment under 15% of your monthly take-home pay.
At 7% for 60 months: $495/month ($29,702 total — $4,702 in interest). For 48 months: $597/month ($28,641 total). For 72 months: $425/month ($30,620 total). The 60-month term costs $918 more in interest than 48 months but saves $102/month in payment.