Monthly payment on a $40,000 car loan
Financing $40,000 at 7.5% APR for 60 months costs about $802 a month and $8,091 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.
$801.52 / month
- Amount financed
- $40,000
- Sales tax
- $0
- Total interest
- $8,091
Payment by APR and term
Monthly payment on $40,000 financed, by annual percentage rate and loan length.
| APR | 36 mo | 48 mo | 60 mo | 72 mo | 84 mo |
|---|---|---|---|---|---|
| 4% | $1,181 | $903 | $737 | $626 | $547 |
| 5% | $1,199 | $921 | $755 | $644 | $565 |
| 6% | $1,217 | $939 | $773 | $663 | $584 |
| 7% | $1,235 | $958 | $792 | $682 | $604 |
| 8% | $1,253 | $977 | $811 | $701 | $623 |
| 9% | $1,272 | $995 | $830 | $721 | $644 |
| 10% | $1,291 | $1,015 | $850 | $741 | $664 |
| 12% | $1,329 | $1,053 | $890 | $782 | $706 |
| 15% | $1,387 | $1,113 | $952 | $846 | $772 |
| 18% | $1,446 | $1,175 | $1,016 | $912 | $841 |
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 $802 a month under that line means a gross income of about $96,182 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.