Car Loan Interest Calculator: How Much Could You Save?

Car loan payment calculator

How much will a good credit score save you?

How much can you save on car interest payments
based on your credit score?

Try our calculator below to see the difference yourself. Watch your payments grow and shrink, based on your credit score.

*Interest rate

Monthly payments

Monthly interest

Trade in value

Total interest paid

Interest with better credit

Total interest paid

Savings with better credit
You qualify for the best interest rates available
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Every payment you make towards your credit building loan gets reported to the credit bureaus, giving you that all important positive payment history.


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Quick Guide: Ensuring You’re Getting A Good Deal On Your Car!

Buying a car isn’t something that should be taken lightly. There are lots of things to take into account like should you buy a new car or buy a used car? Should you finance your car or pay for it all up front if you can afford it? Will your credit score have a significant impact on your payment amounts? This quick guide will answer some of these questions for you! Interested in how much money you can save on a new car if you have good credit? Input your numbers into the car loan payment calculator above and see what the savings could be if your increase your credit score!


How much does your credit affect what you pay for a car?

It’s pretty simple. A low credit score means you’re going to pay more for your car – there’s no way around it. The reason being, lenders see you as a high-risk for auto-financing. If they are going to take that risk on you, they are going to make you pay for it. This could mean you end up paying thousands more over the length of your car loan than someone who has a good credit score. Use the car loan payment calculator above to see exactly how much money you could save with good credit versus poor credit.How do you avoid high-interest rates on car loans? By increasing your credit score as fast as you can before you apply for an auto loan. Read more!


What size of down payment should you put on a car?

When buying a vehicle, you’ll often be required to put a down payment on the car. Most of the time, people pay the minimum amount required and drive away in a newly-financed car. However, it’s worth thinking about paying more than the minimum required down payment on your vehicle. Why? For several reasons, including lower interest rates, lower monthly payments, and less money paid over the lifetime of the auto loan. Check out this article on the other benefits of paying more than the minimum required down payment on an auto loan.

*Savings begin to be built after paying off initial commitment fee.