What would my auto loan payment be?

Before you buy a car, determine your budget for your monthly car payment. Many factors go into determining the final loan amount for the purchase of a new or used vehicle. These factors include any manufacturer's rebate, the trade-in value of your old vehicle less any outstanding balance, your down payment, etc.

Use our Financial Freedom auto loan calculator to see how much you can save in interest with a shorter term.

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. This service shall not infer that the company or its affiliates and email service provider, DocuMatix, LLC, assumes any fiduciary duties. In addition, such service should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results. Use of service is provided without warranty of any kind, either express, implied or statutory, including FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY, AND ACCURACY. Use of service is entirely at users own risk and user should seek professional financial and legal advice without reliance on service. Provider and email service provider shall not be liable for any lost profits, lost business, direct or indirect, punitive or consequential damages or damages of any kind arising out of service use. This agreement shall be governed and enforced by Utah law, with courts located in Salt Lake County, Utah the sole and exclusive venue. User agrees to indemnify and hold harmless company, email service provider, and affiliates from any and all liabilities and costs (including attorney fees) for any improper use or violation of these terms.

20/4/10 Rule

According to this rule, when buying a car, you should put down at least 20%, you should finance the car for no more than 4 years, and you should keep your monthly car payment (including your principal, interest, insurance, and other expenses) at or below 10% of your gross (i.e. pre-tax) monthly income.

This calculator is for illustrative purposes only and is not a guarantee of credit.

Supplemental Information

Current Auto Rates

Loan Term	New Car APR*	Used Car APR*
36 Month Payment example: Eliminate Debt New 36 Month 5.20% (5.20% APR) at 36 months for a $25,000 loan would result in a monthly payment of $751.52. Used 36 Month 5.70% (5.70% APR) at 36 months for a $20,000 loan would result in a monthly payment of $605.72.	new auto rates starting at 5.20%	used auto rates starting at 5.70%
48 Month Payment example: Eliminate Debt New 48 Month 5.90% (5.90% APR) at 48 months for a $25,000 loan would result in a monthly payment of $585.98. Used 48 Month 6.20% (6.20% APR) at 48 months for a $20,000 loan would result in a monthly payment of $471.54.	new auto rates starting at 5.90%	used auto rates starting at 6.20%
60 Month Payment example: New 60 Month 6.45% (6.45% APR) at 60 months for a $25,000 loan would result in a monthly payment of $488.57. Used 60 Month 6.80% (6.80% APR) at 60 months for a $20,000 loan would result in a monthly payment of $394.14.	new auto rates starting at 6.45%	used auto rates starting at 6.80%
72 Month Payment example: New 72 Month 7.00% (7.00% APR) at 72 months for a $25,000 loan would result in a monthly payment of $426.23. Used 72 Month 7.20% (7.20% APR) at 72 months for a $20,000 loan would result in a monthly payment of $342.90.	new auto rates starting at 7.00%	used auto rates starting at 7.20%
Want an even better auto loan rate? Enjoy a *.25% APR discount** on your next auto loan when you have the FAIRWINDS Visa Signature^® card. Learn More about our Visa Signature card.
APR = Annual Percentage Rate Rates are current as of 09/05/2023. Your actual rate is based on your credit quality, down payment, loan term, and amount financed. Discounted Rate: Rates above include a .10% discount for automatic payment from a FAIRWINDS* checking account. The rate will increase by .10% in the event payment is discontinued. Any increase in the rate will result in more payments of the same amount until what you owe has been repaid. Loans are subject to credit union membership eligibility, credit approval, and verification of information provided on the application. Other terms and conditions may apply. Terms and conditions subject to change at any time without prior notice.

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What would my auto loan payment be?

20/4/10 Rule