Auto Loan Calculator

Enter the total purchase price of the vehicle before taxes

Initial payment you'll make on the vehicle. 20% is recommended to avoid being "upside down" on your loan

Value of your current vehicle if you're trading it in

Shorter terms mean higher payments but less total interest paid

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Typical auto loan rates range from 3-10% depending on credit score and loan term

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Vehicle sales tax varies by state, typically between 4-8%

About Auto Loans

Auto loans are secured loans specifically for purchasing vehicles. The vehicle serves as collateral, which typically results in lower interest rates compared to unsecured loans.

Tips for Auto Loans

  • A larger down payment reduces your monthly payments and total interest paid
  • Consider the total cost of ownership, including insurance and maintenance
  • Shorter loan terms usually mean higher monthly payments but less total interest
  • Trading in your current vehicle can reduce the amount you need to finance

Frequently Asked Questions

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