$20,000 payment examples
| APR | 48 months | 60 months | 72 months | 84 months |
|---|---|---|---|---|
| 4.9% APR | $460/mo $2,065 interest | $377/mo $2,591 interest | $321/mo $3,124 interest | $282/mo $3,666 interest |
| 6.9% APR | $478/mo $2,944 interest | $395/mo $3,705 interest | $340/mo $4,481 interest | $301/mo $5,274 interest |
| 8.9% APR | $497/mo $3,844 interest | $414/mo $4,852 interest | $360/mo $5,885 interest | $321/mo $6,944 interest |
Examples are not loan offers. They assume no down payment and exclude sales tax, title, registration, dealer fees and add-ons.
Try your exact numbers
How loan term changes cost
A longer term spreads the principal over more payments and usually lowers the monthly amount, but interest has more time to accrue.
What else belongs in the budget?
- Sales tax, title, registration and dealer fees.
- Negative equity from a trade-in, if any.
- Insurance, fuel or charging, maintenance and depreciation.
Common questions
Is $20,000 always the amount financed?
No. Taxes and fees can raise it, while a down payment and positive trade equity can reduce it.
Does a longer loan make the car cheaper?
It can reduce the monthly payment but usually increases total interest when APR and principal stay the same.