Auto, personal, and student loan calculators — see your monthly payment and total cost instantly.
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🚗 Auto Loan Calculator
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💡 Auto Loan Tip: A larger down payment reduces your loan amount and total interest paid. Aim for at least 20% down to avoid being "underwater" on your loan. A shorter term means higher payments but significant interest savings.
How to Use the Auto Loan Calculator
Enter the vehicle price, your down payment, trade-in value, sales tax rate, loan term, and interest rate. The calculator instantly shows your monthly payment, total interest, and full amortization schedule so you know exactly what you'll pay over the life of the loan.
Auto Loan Facts You Should Know
Auto loan pricing is split sharply by vehicle condition. In late 2025 and into 2026, average rates on new-car loans have hovered around 6.4–6.9% APR, while used-car loans run much higher — typically 10–11.5% APR — because lenders treat older vehicles as higher-risk collateral with less predictable resale value. The spread between the two is one of the widest of any consumer loan category.
Credit score drives auto loan pricing more than almost any other factor. Experian's tier data shows "super prime" borrowers (typically 720+) financing new cars at under 5% APR, while "deep subprime" borrowers (below roughly 580) can see rates above 15–16% on the same vehicle. On a $30,000 loan over 60 months, that gap alone can mean thousands of dollars more in interest paid by a subprime borrower.
Loan terms have been stretching out: the average new-car loan term is now around 68–69 months, and 84-month loans have become common enough to account for roughly a fifth of new financing. Longer terms lower the monthly payment but keep you "underwater" — owing more than the car is worth — for years, since vehicles depreciate fastest in the first two to three years of ownership.
That depreciation curve is also why GAP insurance (Guaranteed Asset Protection) has become a common add-on, now included in close to 40% of financed vehicle deals. GAP covers the difference between what you owe and what the car is actually worth if it's totaled or stolen — a real risk given that drivers who roll over negative equity from a trade-in carried an average of roughly $7,000 in negative equity into their next loan in late 2025.
Because new and used loans behave so differently, it's worth running both scenarios through the calculator above: a shorter term on a used car at a higher rate can sometimes cost less in total interest than a long, low-rate term on a new one, once depreciation and GAP exposure are factored in.
Auto Loan FAQ
For new cars, a good APR is typically 5–7% for borrowers with good credit (700+). Used car loans usually carry rates of 6–12%. Credit unions often offer lower rates than dealerships. Always shop around and get pre-approved before visiting the lot.
Yes — a down payment of 10–20% is recommended. It lowers your monthly payment, reduces the total interest you pay, and helps prevent negative equity (owing more than the car is worth). Some lenders also require a minimum down payment.
Trading in your old vehicle reduces the amount you need to finance. Its value is applied like a down payment toward your new car purchase, reducing your loan amount and monthly payments.
The total cost includes the vehicle price, sales tax, dealer fees, and the total interest paid over the life of the loan. Our calculator includes all these factors so you can see the true cost of your purchase.
A 36–48 month loan minimizes total interest paid and builds equity faster. 60-month loans are common and offer lower monthly payments. Avoid 72–84 month loans — you'll be "underwater" (owing more than the car is worth) for years, and total interest costs are much higher.
New car loans typically have lower interest rates (lenders see them as less risky) but higher loan amounts. Used car loans carry higher rates but lower principal. Factor in depreciation — new cars lose 15–25% of value in the first year, while used cars depreciate more slowly.
Yes, and it saves you money on interest. Check your loan agreement for prepayment penalties (rare but possible). Making one extra payment per year or rounding up monthly payments can shave months off your loan and save hundreds in interest.
💳 Personal Loan Calculator
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💡 Personal Loan Tip: Personal loan rates vary widely by credit score. With excellent credit (750+), you may qualify for rates as low as 6–8%. Watch out for origination fees — they can significantly increase your effective APR. Compare lenders at LendingTree, SoFi, or your local credit union.
How Personal Loan Payments Are Calculated
Enter the loan amount, interest rate (APR), and loan term in months. The calculator uses the standard amortization formula to show your fixed monthly payment and the full breakdown of principal vs. interest over time. Your rate depends primarily on your credit score and the lender.
Personal Loan FAQ
Most lenders require a minimum score of 580–600, but the best rates go to borrowers with scores of 720+. With a score below 640, you may face higher rates or need a co-signer. Check your score for free at Credit Karma or AnnualCreditReport.com before applying.
An origination fee is a one-time charge (typically 1–8% of the loan) that lenders deduct from the loan proceeds or add to the balance. It covers the cost of processing your loan. Always calculate the APR including fees to compare loans accurately.
For large purchases or debt consolidation, a personal loan is usually better than a credit card because: (1) the interest rate is typically lower, (2) the payment is fixed and predictable, and (3) you have a clear payoff date. Credit cards are better for small, short-term expenses you can pay off quickly.
In 2025, personal loan rates range from about 6% for excellent credit (750+) to over 30% for poor credit. The average is around 11–12%. Rates below 10% are considered good. Credit unions typically offer better rates than banks or online lenders.
Most personal loans range from $1,000 to $100,000, though $50,000 is a common maximum. The amount you qualify for depends on your credit score, income, debt-to-income ratio, and the lender's policies. Unsecured personal loans are based entirely on your creditworthiness.
Submitting a full application causes a hard inquiry, which can temporarily lower your score by 5–10 points. However, if you use the loan to pay off credit card debt, your credit utilization drops, which often increases your score more than the inquiry decreased it.
🎓 Student Loan Calculator
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💡 Student Loan Tip: Federal student loan rates for 2024–2025: Undergrad subsidized/unsubsidized 6.53%, Grad unsubsidized 8.08%, PLUS loans 9.08%. Interest accrues during the grace period on unsubsidized and private loans — consider making interest-only payments while in school.
How to Calculate Student Loan Payments
Enter your total student loan balance, interest rate, and repayment term (typically 10 years for federal standard repayment). The calculator shows your monthly payment and total interest paid. For federal loans, also consider income-driven repayment plans which cap payments at 5–10% of discretionary income.
Student Loan FAQ
Subsidized loans: the government pays the interest while you're in school at least half-time, during the grace period, and during deferment. Unsubsidized loans: interest starts accruing immediately from disbursement. Over 4 years of school + 6 month grace period, this can add thousands to your balance.
The Standard 10-year plan minimizes total interest paid. Income-Driven Repayment (IDR) plans cap payments at 10–20% of discretionary income and offer loan forgiveness after 20–25 years. If you work in public service, PSLF forgives federal loans after 10 years of qualifying payments.
There's no prepayment penalty on federal student loans. Paying extra toward principal reduces total interest significantly. However, if your interest rate is low (under 5%), you might get better returns investing the extra money in index funds. Compare your loan rate to expected investment returns.
PSLF forgives the remaining balance on federal Direct Loans after 120 qualifying monthly payments (10 years) while working full-time for a qualifying employer — government agencies, nonprofits, and public service organizations. Payments must be made under an income-driven repayment plan.
For the 2024–2025 academic year, federal student loan rates are: Direct Subsidized/Unsubsidized (undergrad) 6.53%, Direct Unsubsidized (graduate) 8.08%, and Direct PLUS loans 9.08%. Rates are fixed for the life of the loan and are set annually based on the 10-year Treasury note.
A common guideline: total student debt at graduation should not exceed your expected first-year salary. If you expect to earn $50,000, try not to borrow more than $50,000 total. Monthly student loan payments should stay under 10% of gross monthly income to remain manageable.