How does the CarGurus auto loan calculator work?

Enter your down payment, credit tier, loan term, and trade-in value. The calculator then shows your expected monthly payment.

Can I finance a loan with CarGurus?

CarGurus has partnered with participating lenders, including Capital One, Chase, Westlake Financial, and Global Lending Services, so shoppers can get pre-qualified with no impact to their credit score. After pre-qualifying, shoppers can get personalized offers for vehicles while shopping on CarGurus and bring the offer certificate to the dealership to finalize financing.

What interest rate can I expect for an auto loan?

Interest rates (APR) depend on your credit score, vehicle condition (new vs. used), loan duration, and lender policies. Borrowers with credit scores of 740+ generally receive the lowest rates, while borrowers with fair (600-679) or rebuilding (under 600) credit can often receive higher rates.

How much should I put down on a car purchase?

Aim for a down payment of 20% for a new car or 10% for a used car. A larger down payment reduces your financed loan balance, lowers your monthly bill, and reduces total interest paid over time.

Does pre-qualifying for auto financing affect my credit score?

Pre-qualifying uses soft-pull credit checks, so you can view personalized interest rates and lender offers without impacting your credit score. A hard credit inquiry occurs only when you formally submit a final loan application.

Free tool

Auto loan calculator

Plan your car purchase with confidence. Adjust your vehicle price, down payment, loan term, and credit tier to see your estimated monthly payment and interest rate.

Estimate your monthly payment

Your estimated payment is

$351/mo*

with 8.04% APR

See personalized rates with no credit impact

Auto loan calculator fields explained

Vehicle price ($): The sticker price or agreed-upon selling price of the car.

Down payment ($): Cash paid upfront. A higher down payment lowers your monthly payment and the total interest you pay.

Credit tier: Select your credit score tier to help guide your rate choice. Learn how credit affects car loans.

Loan term: Shorter terms reduce total interest costs, while longer terms typically result in lower monthly payments.

Interest rate/APR (%): Annual Percentage Rate (APR) offered by lenders based on credit history and market rates.

Estimated monthly payment: Your estimated payment based on entered principal, APR, and term.

How to use the CarGurus auto loan calculator

Financing a car involves more than just looking at the sticker price. The CarGurus auto loan calculator helps you estimate your monthly car payment and understand the full cost of financing before stepping onto the dealership lot.

By entering key financial details—such as vehicle price, cash down payment, credit tier, and loan duration—you can experiment with different loan terms to find a payment plan that fits your budget.

Know real rates before you shop

Skip the guesswork with no impact on your credit score.

What determines your monthly car payments?

Your monthly auto loan payment is calculated using several key factors:

Vehicle price: The purchase price of the car before taxes, vehicle registration fees, or dealer fees.

Down payment: Upfront cash applied directly to the purchase price. A standard guideline is putting down 10% to 20% to reduce the total amount you need to borrow.

Loan term: The duration of your financing, typically ranging from 36 to 72 months. Shorter terms lower total interest charges, while longer terms spread payments out over time.

Annual Percentage Rate (APR): The yearly interest rate charged by a lender. Your APR depends heavily on market conditions, loan length, and credit tier.

Taxes and fees: Sales tax, documentation, and state title/registration fees add to your final out-of-the-door price.

How trade-in equity affects your car loan

If you currently own a vehicle, trading it in can lower the total amount you need to finance. Positive trade-in equity (when your vehicle's market value exceeds the remaining loan balance) acts like cash toward your down payment.

To calculate how much value your trade-in contributes:

Check your current car's estimated market value using the CarGurus used car value tool.

Subtract any remaining balance owed on your current auto loan.

Add that net trade-in equity directly to your cash down payment amount in the tool above.

Find car values

Examples:

Positive trade-in equity: If your current car is worth $10,000 and you owe $6,000, you have $4,000 in equity. Add that $4,000 directly to your Down Payment amount.

Negative equity (upside down on a loan): If your trade-in is worth $8,000 but you owe $10,000, you have -$2,000 in negative equity. Reduce your cash down payment by $2,000 (or add $2,000 to the vehicle price) to account for rolling that balance into your new loan.

Cash rebates/incentives: Subtract any manufacturer cash-back offers or dealer rebates directly from the Vehicle Price field before calculating.

Estimated payments exclude title and registration fees and may not account for all dealer charges and government fees. Estimated payments are for informational purposes only, and do not represent a financing offer or guarantee of credit from the seller.