Car Payment Calculator

Use this tool to determine how your car payment fits into your monthly budget.
How Much Is My Car Payment? PAYMENT DETAILS

Enter the "Amount Financed", "Term" and "Approved APR" to calculate your monthly car loan payment amount.

Go ahead and test our car loan calculator to find the right monthly payment and amount financed for your budget.

The other important factor in arriving at the right car loan amount is to shop for a vehicle that fits into your budget and your approval amount. Keep in mind that in addition to the basic price of the vehicle you are purchasing, you will also need to pay sales tax and license on the vehicle. This varies by state, but tax and license in most states will be about 7% to 10% of the sales price of the vehicle.

One option to lower the amount financed on the vehicle you are purchasing is to give the dealership a down payment. However, with New Roads Auto Loans, no down payment is required.

If you have any questions about how the car loan calculator works or the New Roads Auto Loans program in general, please call 1-800-924-0364.

Or you can email [email protected].

Our car loan payment calculator helps you determine the right amount financed and the right payment for your next vehicle purchase. There are a few key things to know about car loan financing. The factors to consider in car loan financing are the amount financed, the APR (annual percentage rate) and the term of the loan.

The longer the term of your car loan, the more you will pay for the vehicle in interest overall. But, a longer term car loan will also give you a lower monthly payment. So, this becomes a tradeoff between the affordability of your monthly payment and the overall amount you pay for your vehicle.

For example, a $22,000 car loan at 10% interest over 60 months equals a $467 monthly payment. The same $22,000 car loan over 48 months equals a $557 monthly payment. However, the total amount paid on the 48 month loan will be $1,238 less than the 60 month term in total interest.

Generally speaking, most consumers target a car payment that is about 10% to 12% of their gross monthly income. For example, a consumer making $3,500 per month would target a car loan payment that is about $350 to $420 per month. Of course all customer budget situations are different—everyone needs to consider their total monthly obligations when determining the right payment using the New Roads Auto Loans car loan calculator.

Use this tool to determine how your car payment fits into your monthly budget.


Applying is easy! We can have an answer to you in about 30 seconds and you could be shopping for a car as early as the next day.