Monthly payment on a $15,000 car loan
Financing $15,000 at 7.5% APR for 60 months costs about $301 a month and $3,034 in total interest. Your actual APR depends mostly on credit score and whether the car is new or used — find your rate in the table, or enter a quote in the calculator.
$300.57 / month
- Amount financed
- $15,000
- Sales tax
- $0
- Total interest
- $3,034
Payment by APR and term
Monthly payment on $15,000 financed, by annual percentage rate and loan length.
| APR | 36 mo | 48 mo | 60 mo | 72 mo | 84 mo |
|---|---|---|---|---|---|
| 4% | $443 | $339 | $276 | $235 | $205 |
| 5% | $450 | $345 | $283 | $242 | $212 |
| 6% | $456 | $352 | $290 | $249 | $219 |
| 7% | $463 | $359 | $297 | $256 | $226 |
| 8% | $470 | $366 | $304 | $263 | $234 |
| 9% | $477 | $373 | $311 | $270 | $241 |
| 10% | $484 | $380 | $319 | $278 | $249 |
| 12% | $498 | $395 | $334 | $293 | $265 |
| 15% | $520 | $417 | $357 | $317 | $289 |
| 18% | $542 | $441 | $381 | $342 | $315 |
Income guideline
The widely used 20/4/10 rule suggests 20% down, a loan of no more than four years, and a car payment under 10% of gross monthly income. Keeping $301 a month under that line means a gross income of about $36,068 a year. Insurance, fuel, and maintenance often add as much again, so many buyers aim lower.
The amount financed is the price after your down payment and trade-in, plus any sales tax and fees you roll into the loan. To see what sales tax adds in your state, use the full auto loan calculator or its state pages.