Calculate car loan payments, lease costs, and refinancing savings by credit tier. Compare rates from 3% to 12% APR and find the best auto loan deals for your credit score.
Calculate payments for excellent credit (3-6% APR), good credit (6-8% APR), fair credit (8-12% APR), and poor credit (12%+ APR). Find the best rates for your credit tier and save thousands.
Calculate monthly payments, total interest, and amortization schedule
Calculate monthly lease payments with money factor and residual value
See if refinancing your car loan could save you money
Estimate your car insurance costs by state and coverage level
Convert money factor to APR and compare financing options
Learn from our comprehensive guides on car loans, leasing, refinancing, and insurance.
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Our calculators use standard formulas to provide estimates for educational purposes. Results are for informational use only.
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Quick answers to common auto loan questions
Excellent credit (760+ FICO): 3-6% APR rates. Good credit (700-759): 6-8% APR. Fair credit (620-699): 8-12% APR. Poor credit (below 620): 12%+ APR. Always compare offers from multiple lenders to find the best rate for your credit profile.
Lease advantages: Lower monthly payments, always drive new cars, warranty coverage. Lease disadvantages: Mileage limits (10,000-15,000/year), end-of-lease fees, no equity. Buying is cheaper long-term if you keep the car 5+ years and avoid mileage penalties.
Formula: APR ≈ Money Factor × 2400. Example: Money factor 0.0025 = 6% APR. Good money factors: 0.0015-0.0025 (3.6-6% APR). Bad money factors: 0.0035+ (8.4%+ APR). Always convert to compare with loan rates.
Refinance when: Credit score improved 50+ points, market rates dropped 1%+, or you can get 0.5%+ better rate. Calculate break-even: Savings per month × months remaining > refinance fees. Best timing: 6-12 months into your current loan.
Amortization Formula: We use the standard loan payment formula: P = [r(1+r)^n] / [(1+r)^n - 1] × A
Money Factor Conversion: APR ≈ Money Factor × 2400 (industry standard)
Lease Calculations: Based on capitalized cost, residual value, and money factor
Rate Sources: Updated monthly from major lenders and credit unions
Editorial Review: Our content is carefully researched and fact-checked using trusted, publicly available sources. While our team is not licensed financial professionals, we strive for accuracy and transparency. All tools and guides are provided for educational purposes only and should not be considered financial advice.
Data Accuracy: All rates and calculations are for educational purposes only and are regularly reviewed using information from reputable sources, including Bankrate, NerdWallet, and direct lender websites. Actual rates and terms may vary by lender, credit score, and location.
Editorial Policy: Our content is carefully researched and fact-checked using trusted, publicly available sources. While our team is not licensed financial professionals, we strive for accuracy and transparency. All tools and guides are provided for educational purposes only and should not be considered financial advice.
Not Financial Advice: Our calculators provide estimates for educational purposes only.
Rate Variations: Actual rates vary by lender, credit score, loan term, and location.
State Differences: Sales tax, fees, and regulations vary by state.
Last Updated: January 2025 - Rates and terms subject to change.
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