What is a good interest rate for an auto loan?

New car loan rates for borrowers with excellent credit typically range from 5–7%. Used car rates are generally higher. Your actual rate depends on credit score, loan term, and lender.

Car Loan Calculator

Estimate auto loan payments, total interest, and total cost.

This tool runs in your browser. None of your data is saved or sold.

Vehicle price / loan amount ($)

Annual rate (%)

Years (years)

Payments per year (years)

About This Calculator

Enter the vehicle price (or financed amount after any down payment), the dealer or bank rate, and the loan term to see your monthly payment and total interest cost. This is particularly useful when a dealership quotes you a monthly payment — you can back-calculate the total cost and compare it against different terms.

Estimates only — not financial, tax, legal, or investment advice. Verify important results with a qualified professional before making decisions.

PMT = P × r / (1 − (1 + r)^−N); total paid = PMT × N; total interest = total paid − P