Your monthly car payment
A car loan is paid in equal monthly payments over the term. The payment combines the amount financed (price minus down payment and trade-in), the APR and the number of months. Stretching the term lowers the payment but raises the total interest.
Common questions
Principal and interest on a fixed-rate car loan. It excludes sales tax, licensing and any dealer fees, which you usually finance or pay separately.
A longer term lowers the monthly payment but increases the total interest you pay. 84- and 96-month loans cost much more over time.
Enter your down payment plus any trade-in value together — both reduce the amount you need to finance.