What will the car really cost each month?
Most car payment calculators stop at price, rate and term. This one finances what a dealer actually finances: the price minus your down payment and trade in, plus sales tax at your state's vehicle rate, plus title, registration and documentation fees. It starts from today's MonitorBankRates average auto loan APR, new or used, and when you pick your state it loads the state average APR, the state sales tax rate and the average car insurance premium there, so you can see the full monthly cost of driving the car, not just the loan. Compare lenders on the auto loan rates page.
Auto loan calculator for your state
Each state page is prefilled with that state's MonitorBankRates average auto loan APR, vehicle sales tax rate and average car insurance cost, and lets you apply verified lender rates with one click.
Or load your state's numbers into this calculator
Loads the MonitorBankRates average new and used auto loan APRs in your state, the state vehicle sales tax rate and the average car insurance premium into the calculator below.
Car Payment Estimator
Enter the deal. Results update as you type.
Where the amount financed comes from
| Vehicle price | $0 |
| Sales tax | $0 |
| Title, registration and fees | $0 |
| Down payment | $0 |
| Trade in | $0 |
| Amount financed | $0 |
Loan balance over time
Amortization schedule (yearly totals)
| Year | Principal Paid | Interest Paid | Ending Balance |
|---|
What a Car Loan Costs Right Now
As of September 24, 2026, the MonitorBankRates national average new auto loan APR is 5.88% and the average used auto loan APR is 6.70%. A $35,000 new car with $3,500 down, 6% sales tax and $300 in fees means financing $33,900, which costs about $653 a month over 60 months at the new car average and $5,307 in total interest; the same amount at the used car average costs $666 a month. Adding the U.S. average car insurance premium of about $105 a month brings the cost of driving it to roughly $758 a month.
| $33,900 financed at 5.88% APR | Monthly | Total interest |
|---|---|---|
| 36 months | $1,029 | $3,159 |
| 48 months | $794 | $4,223 |
| 60 months | $653 | $5,307 |
| 72 months | $560 | $6,410 |
| 84 months | $493 | $7,532 |
Rates change daily. The example is recalculated every time this page loads using the current MonitorBankRates average.
Car Payment by State
Monthly payment on a $35,000 new car with $3,500 down over 60 months at each state's current MonitorBankRates average new auto loan APR, with the state's vehicle sales tax rate applied to the price and $300 in fees, plus the average car insurance cost there. Sorted from the lowest payment to the highest. Click a state for its calculator, or the APR for its full lender table.
| State | Avg new auto APR | Sales tax | Amount financed | Payment | Avg insurance / mo |
|---|---|---|---|---|---|
| Montana | 5.63% | 0.00% | $31,800 | $609 | $90 |
| Alaska | 5.70% | 0.00% | $31,800 | $610 | $96 |
| New Hampshire | 5.81% | 0.00% | $31,800 | $612 | $76 |
| Oregon | 5.92% | 0.00% | $31,800 | $614 | $91 |
| North Carolina | 5.02% | 3.00% | $32,850 | $620 | $83 |
| Alabama | 5.68% | 2.00% | $32,500 | $624 | $94 |
| Hawaii | 5.32% | 4.00% | $33,200 | $631 | $79 |
| Colorado | 5.86% | 2.90% | $32,815 | $632 | $121 |
| Delaware | 5.34% | 4.25% | $33,288 | $633 | $116 |
| Wyoming | 5.46% | 4.00% | $33,200 | $634 | $88 |
| Missouri | 5.51% | 4.23% | $33,279 | $636 | $95 |
| South Carolina | 5.21% | 5.00% | $33,550 | $636 | $111 |
| Maine | 5.02% | 5.50% | $33,725 | $637 | $70 |
| Virginia | 5.61% | 4.15% | $33,253 | $637 | $88 |
| Iowa | 5.35% | 5.00% | $33,550 | $639 | $75 |
| New York | 5.87% | 4.00% | $33,200 | $640 | $140 |
| North Dakota | 5.44% | 5.00% | $33,550 | $640 | $73 |
| Oklahoma | 6.07% | 4.50% | $33,375 | $646 | $98 |
| District of Columbia | 5.44% | 6.00% | $33,900 | $647 | $136 |
| Vermont | 5.46% | 6.00% | $33,900 | $647 | $71 |
| Wisconsin | 5.92% | 5.00% | $33,550 | $647 | $73 |
| Maryland | 5.49% | 6.00% | $33,900 | $647 | $116 |
| Florida | 5.56% | 6.00% | $33,900 | $648 | $142 |
| Minnesota | 5.29% | 6.88% | $34,206 | $650 | $89 |
| Michigan | 5.67% | 6.00% | $33,900 | $650 | $119 |
| Arizona | 5.87% | 5.60% | $33,760 | $651 | $107 |
| Mississippi | 6.13% | 5.00% | $33,550 | $651 | $103 |
| Idaho | 5.70% | 6.00% | $33,900 | $651 | $73 |
| Georgia | 5.32% | 7.00% | $34,250 | $651 | $126 |
| Illinois | 5.65% | 6.25% | $33,988 | $652 | $90 |
| Ohio | 5.87% | 5.75% | $33,813 | $652 | $76 |
| West Virginia | 5.77% | 6.00% | $33,900 | $652 | $92 |
| Arkansas | 5.56% | 6.50% | $34,075 | $652 | $94 |
| Texas | 5.80% | 6.25% | $33,988 | $654 | $123 |
| New Jersey | 5.72% | 6.63% | $34,119 | $655 | $127 |
| Connecticut | 5.85% | 6.35% | $34,023 | $655 | $115 |
| Louisiana | 6.49% | 5.00% | $33,550 | $656 | $145 |
| Pennsylvania | 6.09% | 6.00% | $33,900 | $657 | $93 |
| Washington | 5.78% | 6.80% | $34,180 | $657 | $94 |
| Massachusetts | 6.04% | 6.25% | $33,988 | $658 | $104 |
| Kentucky | 6.15% | 6.00% | $33,900 | $658 | $90 |
| Indiana | 5.73% | 7.00% | $34,250 | $658 | $76 |
| California | 5.67% | 7.25% | $34,338 | $659 | $104 |
| Utah | 6.83% | 4.85% | $33,498 | $661 | $94 |
| New Mexico | 7.36% | 4.00% | $33,200 | $663 | $96 |
| Rhode Island | 6.10% | 7.00% | $34,250 | $664 | $131 |
| South Dakota | 7.38% | 4.20% | $33,270 | $665 | $85 |
| Kansas | 6.47% | 6.50% | $34,075 | $666 | $88 |
| Nebraska | 6.97% | 5.50% | $33,725 | $667 | $88 |
| Tennessee | 6.41% | 7.00% | $34,250 | $669 | $88 |
| Nevada | 6.57% | 6.85% | $34,198 | $670 | $118 |
APRs: MonitorBankRates state averages as of September 24, 2026, computed from rates published by banks and credit unions in each state. Sales tax: statewide vehicle rate, before local add ons. Insurance: NAIC average annual premium by state.
Auto Loan Calculators by State
Every state page starts from the MonitorBankRates state average APR, the state vehicle sales tax rate and the average car insurance premium, with one click access to the lowest verified lender APR in that state.
How This Auto Loan Calculator Works
The amount financed is the vehicle price minus your down payment and trade in, plus sales tax and fees. In most states the trade in is subtracted before tax is figured, which is why trading in at the dealer can beat a private sale on an expensive car; a few states tax the full price, and the checkbox lets you switch. The monthly payment then comes from the standard amortization formula for the APR and term you choose, the same formula the finance office uses.
Total cost of the car is everything you pay: down payment, trade in value, every loan payment and the fees. Payment plus insurance adds one twelfth of the annual premium so the number reflects what leaves your account each month for the car, before fuel and maintenance.
Auto Loan Definitions
How to Use the Auto Loan Calculator
- Enter the price, down payment and trade in
Use the negotiated price, not the sticker. Enter the trade in net of any loan still owed on it.
- Pick new or used and set the term
The APR defaults to today's MonitorBankRates average for that type; pick your state above to use the state average or enter a quote. Shorter terms cost less overall.
- Check the tax rate and fees
Choosing a state loads its vehicle sales tax rate. Add the dealer's documentation fee and your state's title and registration charges.
- Read the full monthly cost
The large figure is the loan payment. Payment plus insurance shows what the car costs to keep on the road each month.
Frequently Asked Questions
How is a car payment calculated?
The amount financed (price minus down payment and trade in, plus sales tax and fees) is amortized over the term at the APR: the loan times the monthly rate, divided by one minus (1 plus the monthly rate) raised to the negative number of payments. A $33,900 loan at 5.88% over 60 months costs about $653 a month.
What is the average auto loan rate right now?
As of September 24, 2026, the MonitorBankRates national average new auto loan APR is 5.88% and the average used auto loan APR is 6.70%, computed daily from rates published by banks and credit unions nationwide. Averages differ by state; pick your state above to load its figures.
Is sales tax included in a car loan?
Usually, yes. Dealers add sales tax, title, registration and documentation fees to the amount financed unless you pay them in cash at signing. This calculator includes them, which is why the amount financed is higher than the price minus your down payment. Vehicle sales tax rates range from zero in a few states to more than 7% at the state level, before local add ons.
Does a trade in reduce sales tax?
In most states, yes: tax is charged on the price minus the trade in value, so a $10,000 trade in at 6% saves $600 in tax. A few states, including California and Virginia, tax the full price. The calculator has a checkbox for each case, and the state pages set it for you.
What loan term should I choose?
The shortest term whose payment fits. On the $33,900 example at 5.88%, 48 months costs $794 a month, 60 months $653, and 84 months $493. The 84 month loan pays about $2,225 more interest than the 60 month loan and leaves you owing more than the car is worth for years.
How much should I put down on a car?
At least 10% on a used car and 20% on a new one is the usual guidance. A larger down payment lowers the payment and the interest, and keeps you from being upside down when the car depreciates. Putting down 20% on a $35,000 car, $7,000, cuts the payment in the example by about $67 a month.
How much does car insurance add to the cost?
The NAIC average annual car insurance premium is about $1,258 nationally, roughly $105 a month, and it varies widely by state. The calculator adds it to the payment so you see the real monthly cost of the car. The state pages load the state average.
Do auto loan rates vary by state?
Yes. MonitorBankRates computes a separate average for every state from the rates published by banks and credit unions in that state, and sales tax and insurance costs differ far more. The state table on this page shows the payment on the same car in every state.
