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Estimate the monthly payment, total interest and full amortization schedule for a new or used vehicle. Accounts for sales tax, trade-in, cash rebates and fees.
| Year | Interest | Principal | Ending Balance |
|---|---|---|---|
| 1 | $2,267 | $6,083 | $29,057 |
| 2 | $1,827 | $6,522 | $22,535 |
| 3 | $1,356 | $6,994 | $15,541 |
| 4 | $850 | $7,499 | $8,042 |
| 5 | $308 | $8,042 | $0 |
An auto loan is a secured installment loan used to purchase a vehicle. The car serves as collateral, so the lender can repossess it if you stop making payments. Most U.S. auto loans run between 36 and 72 months, with longer terms producing lower monthly payments but more total interest. Your APR depends on your credit score, the loan term, the loan-to-value ratio and whether the car is new or used.
A reference list of widely financed cars, SUVs and trucks. Use the calculator above to estimate payments for any of them.