What is the monthly payment on a $12k car loan?
Rate basis: illustrative assumptions, not live rates. Replace them with your lender's quote or your own return scenario.
At 7% APR over 60 months, a $12,000 car loan costs about $238 a month, with $2,257 in total interest.
Payment by loan term
| Term | Monthly | Total interest |
|---|---|---|
| 36 months | $371 | $1,339 |
| 48 months | $287 | $1,793 |
| 60 months | $238 | $2,257 |
| 72 months | $205 | $2,730 |
| 84 months | $181 | $3,213 |
Payment by interest rate (60 months)
Example rates, not a quote. Your rate depends on credit, lender and vehicle age.
| APR | Monthly | Total interest |
|---|---|---|
| 5% | $226 | $1,587 |
| 6% | $232 | $1,920 |
| 7% | $238 | $2,257 |
| 8% | $243 | $2,599 |
| 10% | $255 | $3,298 |
How it's calculated
Monthly payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r the monthly rate (APR ÷ 12) and n the number of months. Taxes, fees and a down payment change the amount you finance.
Change the numbers →
Open the Car Payment Calculator with these values filled in.
These figures are educational estimates, not financial advice.
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