The Mississippi auto loan calculator estimate for a $35,000 new car with $3,500 down, financed over 60 months at today's MonitorBankRates Mississippi average new auto loan APR of 6.13% with the Mississippi vehicle sales tax of 5.00% and $300 in fees added to the loan, is a monthly car payment of about $651, or about $754 a month with the average Mississippi car insurance premium included, verified by MonitorBankRates as of September 24, 2026.
Lenders serving Mississippi currently advertise auto loan APRs from 2.00% to 3.64% across the 5 offers listed below. This calculator finances what a Mississippi dealer actually finances: the price minus your down payment and trade in, plus Mississippi sales tax and fees. The APR is today's MonitorBankRates Mississippi average; switch to used with one click or apply a verified lender APR from the panel below. The same loan at the Mississippi used car average of 6.27% costs about $653 a month.
Mississippi Car Payment Estimator
Prefilled with the MonitorBankRates Mississippi average APR, the Mississippi sales tax rate and average insurance. Results update as you type.
Where the amount financed comes from
| Vehicle price | $0 |
| Mississippi 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 |
|---|
Current Mississippi Average Auto Loan Rates
Today's MonitorBankRates Mississippi averages first, then the lowest verified new and used offers from lenders serving Mississippi. Click any APR to run it through the calculator.
Auto Loan Offers in Mississippi and the Payment on a $35,000 Car
Monthly payment on the example loan ($33,550 financed after $3,500 down, Mississippi tax and fees) at each lender's advertised APR and term, from rate sheets published by the lender and verified by MonitorBankRates.
- Southeast Financial Credit UnionNew Car & Truck Loans2.00% APR$588 a month over 60 months
- HealthPlus Federal Credit UnionNew Auto3.29% APR$607 a month over 60 months
- Statewide Federal Credit UnionNew Autos3.49% APR$610 a month over 60 months
- Riverland Federal Credit UnionAuto Loans - Cars, Trucks, & SUVs3.50% APR$610 a month over 60 months
- Baxter Credit UnionAuto Loan3.64% APR$612 a month over 60 months
Compare every new and used auto loan, local banks and credit unions first, on the Mississippi auto loan rates page.
View Your Mississippi Auto Loan Rate
Personalized auto loan offers from lenders serving Mississippi.
What a Car Loan Costs in Mississippi Right Now
| $35,000 new car, $3,500 down, Mississippi tax and fees: $33,550 financed at the MonitorBankRates Mississippi average of 6.13% | Monthly | Total interest |
|---|---|---|
| 36 months | $1,023 | $3,265 |
| 48 months | $790 | $4,366 |
| 60 months | $651 | $5,489 |
| 72 months | $558 | $6,632 |
| 84 months | $492 | $7,796 |
Mississippi sales tax adds $1,750 to a $35,000 car, which at 6.13% over 60 months is about $34 of the monthly payment. Because Mississippi taxes the price after the trade in, trading in a $10,000 car at the dealer saves $500 in tax compared with selling it privately. The Mississippi average APR of 6.13% is above the U.S. average of 5.88%. Add the average Mississippi car insurance premium of $103 a month and the car costs about $754 a month to keep on the road before fuel and maintenance, which is 16.0% of the Mississippi median household income of $56,447. Rates change daily; every figure on this page is recalculated when it loads from the current MonitorBankRates Mississippi average.
Car Payments by Price in Mississippi
10% down, Mississippi sales tax of 5.00% and $300 in fees financed, 60 months at the MonitorBankRates Mississippi averages for new (6.13%) and used (6.27%) cars.
| Price | Down | Mississippi tax | Amount financed | New car payment | Used car payment |
|---|---|---|---|---|---|
| $15,000 | $1,500 | $750 | $14,550 | $282 | $283 |
| $25,000 | $2,500 | $1,250 | $24,050 | $466 | $468 |
| $35,000 | $3,500 | $1,750 | $33,550 | $651 | $653 |
| $45,000 | $4,500 | $2,250 | $43,050 | $835 | $838 |
| $60,000 | $6,000 | $3,000 | $57,300 | $1,111 | $1,115 |
Buying a Car in Mississippi: Tax, Fees and Insurance
Sales tax. Motor vehicle rate of 5%. Dealers add the tax to the amount financed unless you pay it at signing, so it costs interest for the life of the loan.
Trade in. In Mississippi the trade in value is subtracted before tax is figured, so a $10,000 trade in saves $500 in tax on top of lowering the loan.
Fees. Title, registration and plate fees are set by the Mississippi motor vehicle agency and vary by vehicle; dealer documentation fees are set by the dealer and run from about $100 to more than $800 depending on the state. The calculator uses $300 as a placeholder; replace it with the figures on your buyer's order.
Insurance. The average Mississippi car insurance premium is about $1,232 a year, or $103 a month, according to the NAIC, compared with about $1,258 nationally. Lenders require full coverage on a financed car, so budget for it alongside the payment. Compare carriers on the Mississippi car insurance page.
How to Use the Mississippi Auto Loan Calculator
- Start from the Mississippi defaults
The APR is today's MonitorBankRates Mississippi average, the sales tax is the Mississippi vehicle rate and the insurance line is the state average. Switch to used with one click.
- Enter the deal
Type the negotiated price, your down payment and trade in, and the fees from the buyer's order. Add your local tax rate if your county or city charges more than the state rate.
- Click a verified lender APR
The panel lists the lowest current new and used offers from lenders serving Mississippi. One click applies that APR and term.
- Read the full monthly cost
The large figure is the loan payment. Payment plus insurance shows what the car costs each month to keep on the road.
Frequently Asked Questions About Car Loans in Mississippi
What is the average auto loan rate in Mississippi today?
The MonitorBankRates Mississippi average new auto loan APR is 6.13% as of September 24, 2026, and the average used auto loan APR is 6.27%, computed every day from rates published by banks and credit unions lending in Mississippi. Individual lenders currently advertise APRs from 2.00% to 3.64% for borrowers with strong credit; compare offers on the Mississippi auto loan rates page.
How much is the car payment on a $35,000 car in Mississippi?
With $3,500 down, Mississippi sales tax of 5.00% and $300 in fees, the amount financed is $33,550. At the MonitorBankRates Mississippi average new auto loan APR of 6.13% that is about $651 a month over 60 months, $790 over 48 months, or $558 over 72 months.
What is the sales tax on a car in Mississippi?
Motor vehicle rate of 5%. On a $35,000 car the state rate of 5.00% comes to $1,750. The trade in value is subtracted before tax in Mississippi.
Does a trade in reduce sales tax in Mississippi?
Yes. Mississippi charges sales tax on the purchase price minus the trade in, so a $10,000 trade in saves $500 in tax at the 5.00% state rate in addition to lowering the loan.
How much is car insurance in Mississippi?
The NAIC average car insurance premium in Mississippi is about $1,232 a year, or $103 a month, compared with about $1,258 nationally. Full coverage is required on a financed car, so the calculator adds the premium to the payment: about $754 a month for the example car.
What loan term should I choose?
The shortest term whose payment fits. On the $33,550 example at 6.13%, 48 months costs $790 a month, 60 months $651, and 84 months $492. The 84 month loan pays about $2,307 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 in Mississippi?
At least 10% on a used car and 20% on a new one is the usual guidance. Twenty percent down on the $35,000 example, $7,000, cuts the payment by about $68 a month and reduces the time you owe more than the car is worth.
Auto Loan Calculators for Other States
Each state page starts from that state's MonitorBankRates average APR, vehicle sales tax rate and average car insurance cost. The national auto loan calculator compares the payment on the same car in every state.
