This doesn't account for insurance, maintenance, gas, or other costs. It's a tough question. Should You Borrow For: 36, 48, 60 or 72 Months? Since cars are getting outrageously expensive so the dealers have made 60 and 72 month loans or 5 year leases popular. How much of a loan can to take? Every car shopper is unique and so are the many deals on new cars. 60 months: 4.71%--48 ... 5.26%: How to use the auto loan calculator to find the right car. It will also be tempting to pay the minimum and end up with a car that is "under water." If the rebate is $1,000 it would be to your advantage to take the 0% financing because the $1,000 rebate is less than the $2,645.48 … Solve using CalculatorSoup Loan Calculator.

For instance, using our loan calculator, if you buy a $20,000 vehicle at 5% APR for 60 months the monthly payment would be $377.42 and you would pay $2,645.48 in interest. For individual consumers, however, rates vary based on credit score, term length of the loan, age of the car being financed, and other factors relevant to a lender’s risk in offering a loan. Enter your loan details and click calculate. Calculation: Find the Loan Amount Interest Rate: % 6 You’ll need the price, trade-in values, and interest rates and/or rebates available on the vehicle, then our monthly car payment calculator will quickly forecast what your payment will be each month. How much is the monthly payment of a 48 month car loan for $9,000? Never sign up to a loan longer than 48 months. Example: Your bank offers a loan at an annual interest rate of 6% and you are willing to pay $250 per month for 4 years (48 months). If everything is equal, I would take the 60 month but pay it off like it was a 36 month. You may also need to give up certain incentives. Do your research and plug in all the variables. What's the payment on a $9,000 auto loan paid over 48 months? See rates for new and used car loans, and find auto loan ... Rates vary depending on credit score and loan term. Having a 60 month used car loan has both its pros and cons.The advantage of longer term loans is that you have longer to pay, and get a lower monthly payment. On the other hand, you may be paying less per month, but you will be paying much more than the original principal when compared to a shorter term loan like a 36 or 48 month loan. The national average for US auto loan interest rates is 5.27% on 60 month loans. Usually the 60 month loan has a higher interest rate.