What will my auto loan payment be

However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money. Our auto loan calculator helps you estimate what your monthly car loan payment will be.

You can select average interest rates by credit score or fill in a rate on your own. You can input car price, down payment amount and loan term to see how variations will affect the following loan details:. Amount of your monthly car loan payment minus taxes and fees. Total amount of interest you will pay. Your total cost car price and interest over the life of the loan. Many people reduce payments by lengthening the term of the loan.

Subtract any savings from dealer negotiations or manufacturer rebates. Never cosign for an auto loan. Yes, they may need your help. Yes, they may be a great friend or your own flesh and blood. But it's never a good idea - especially if you aren't planning on having to pay off the entire loan when the person who signs for it defaults.

Before going to the car lot, try lining up your financing at a local credit union first. Credit unions often offer better rates than banks and financing companies at car dealerships. Enter a total loan amount into this auto loan calculator to estimate your monthly payment, or determine your loan amount by car price, trade-in value and other factors.

Adjust the loan term, down payment amount and interest rate to see results based on the numbers you provide — and how any changes to those numbers may affect your payment. Results shown are for CA. Change your state The figures entered on the input page of this calculator are for hypothetical purposes only.

You should enter figures that are appropriate to your individual situation. The results provided by this calculator are also intended for illustrative purposes only and accuracy is not guaranteed. Bank of America and its affiliates are not tax or legal advisers. This calculator is not intended to offer any tax, legal, financial or investment advice and does not assure the availability of or your eligibility for any specific product offered by Bank of America, its affiliates or any other institution, nor does this calculator predict or guarantee the actual results of any investment product.

The terms and conditions of products offered by institutions will differ and may affect the results of the calculator. Please consult with qualified professionals to discuss your situation.

Please tell us where you bank so we can give you accurate rate and fee information for your location. Calculate how much you could save. Enter the purchase price, monthly payment, down payment, term and interest rate to see how different loan terms or down payments can impact your monthly payment.

This calculator is for general education purposes only and is not an illustration of current Navy Federal products and offers. A lower purchase price will make it easier to achieve affordable monthly payments but there are many good reasons to spend more on a car that will last longer or provide what your household needs.

A higher down payment will allow for lower interest rates as well as reduced monthly payments and a shorter term length. Raising this amount by saving before the purchase can largely affect the overall cost of a car, making more options affordable for a household.

A loan term is the amount of time you will be paying your monthly auto loan payments. Longer term loans allow for a smaller monthly payment but add up to larger amounts of interest paid on a car in total. The lowest interest rates will be available for buyers with high credit scores, large down payments, short term lengths, and who take out loans with credit unions like Navy Federal rather than a bank or other alternative lender.