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Car Payment Calculator

2013 Hyundai Sonata Hybrid

Avg. Price Paid:$9,921

MSRP:$25,650

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Our calculators are intended to produce rough estimates provided solely for informational purposes. You should not take action based on the information provided through this calculator alone. When available, we recommend you use interest rate information provided to you by your dealer or lender.

With the average price of a new vehicle sitting above $35,000 and no sign of this number coming down, very few people can afford to pay cash for a new car. If you’re like most people, you’ll be financing the purchase of your next car or SUV, and that means taking out a car loan.

Auto loans are pretty simple once you break them down. You can apply for one from a bank, credit union, or other lending institutions – your car dealer can even help you apply. The car loan company pays the dealer a lump sum for the car, and they technically own it while you repay the loan over several years. Once the loan term is up, you’ve paid for the car plus interest. Interest is what the auto loan company charges you to borrow the money.

With that in mind, it’s easy to see why your monthly car payment may matter more to you than a car’s MSRP. With our car payment calculator, you can quickly determine how much you’ll owe the loan company each month. That car payment has to fit in your monthly budget, so let’s get started and figure out just what it’s going to be.

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Apply for financing today, and get up to four offers. Compare your options before visiting the dealership to make sure you get the best rate for you. It's free, quick, and easy.

Down Payment

A down payment is the portion of the car’s price that you pay upfront. Because you’ve paid for part of the car with it, it lowers the amount of money you need to borrow and thus lowers your monthly loan payment. As a general rule, you should pay 20 percent of the price of the vehicle as a down payment. That’s because vehicles lose value, or depreciate, rapidly. If you make a small down payment or no down payment, you can end up owing more on your auto loan than your car or SUV is worth. That can come back to bite you if you need to sell the car or if it’s totaled in an accident.

Though putting 20 percent down is recommended, you don’t have to put that much money down. Some car loans don’t require any money down. However, if you have money saved for a down payment, enter that amount in the down payment box of the calculator.

Trade-In Value

Trade-in value is how much an