A $30,000 car loan at 6.5% costs $587 a month over 60 months and $445 over 84 months, but the longer term adds $2,202 of interest.
- 36 months
- 60 months
- 84 months
| Amount | 36 months | 48 months | 60 months | 72 months | 84 months |
|---|---|---|---|---|---|
| $10,000 | $306 | $237 | $196 | $168 | $148 |
| $15,000 | $460 | $356 | $293 | $252 | $223 |
| $20,000 | $613 | $474 | $391 | $336 | $297 |
| $25,000 | $766 | $593 | $489 | $420 | $371 |
| $30,000 | $919 | $711 | $587 | $504 | $445 |
| $35,000 | $1,073 | $830 | $685 | $588 | $520 |
| $40,000 | $1,226 | $949 | $783 | $672 | $594 |
| $45,000 | $1,379 | $1,067 | $880 | $756 | $668 |
| $50,000 | $1,532 | $1,186 | $978 | $840 | $742 |
| $60,000 | $1,839 | $1,423 | $1,174 | $1,009 | $891 |
How it is computed
Each cell is the fixed monthly payment A = P × r(1 + r)^n ÷ ((1 + r)^n − 1), with r the annual rate ÷ 12 and n the number of months. Taxes, fees and trade-in are not included.
FAQ
Is a longer car loan a bad idea?+
It lowers the payment but raises the total interest, and the car can be worth less than the balance for years. Compare the total cost, not only the payment.
Are sales tax and dealer fees included?+
No. Add them to the amount financed if you roll them into the loan, then read the matching row.