$27,000 Car Loan for 84 Months

What's the monthly payment on a $27,000 car with a 84 month (7 year) loan?
Purchase Price
$
Down Payment
$
Interest Rate
%
Loan Term
Monthly payment = $517
Total yearly payments = $6,201
Payments by Interest Rate
Interest Rate Monthly Payment
1.5% $271
2.5% $281
3.5% $290
4.5% $300
5.5% $310
6.5% $321
7.5% $331
8.5% $342
9.5% $353
Payments by Amount Down
Down Monthly Payment
$0 $407
$1,000 $392
$2,500 $369
$5,000 $332
$7,500 $294
$10,000 $256
Payments by Loan Length
Length Payment
24 months $967
36 months $666
48 months $517
60 months $427
72 months $368
84 months $325
Long Term or Short Term Auto Loan?
Generally speaking, if you can afford it, it's better to get a shorter term loan. Your payments will be higher, but your interest rate will be lower. More importantly, you'll have your car or truck paid off sooner.
That said, a longer term loan will result in lower monthly payments. You might want to choose this option if you have high-interest credit card debt, or you don't have enough cash to pay for emergencies.
As always, it pays to shop around and get multiple quotes before choosing a loan.
Average One-Way Commute Time by State
State Minutes
New York34.0
Maryland33.7
New Jersey33.1
Massachusetts31.0
California30.7
Illinois29.6
Georgia29.3
Virginia29.1
Washington28.8
Florida28.4
Hawaii28.1
New Hampshire28.0
Pennsylvania27.8
Texas27.2
Connecticut27.0
Delaware26.7
Arizona26.6
Louisiana26.6
Colorado26.5
West Virginia26.4
South Carolina26.0
Tennessee25.9
North Carolina25.7
Rhode Island25.7
Nevada25.6
Alabama25.4
Michigan25.1
Mississippi25.1
Maine24.6
Minnesota24.4
Missouri24.3
Ohio24.3
Indiana24.2
Kentucky24.2
Oregon24.2
Vermont24.0
Oklahoma22.7
Wisconsin22.7
New Mexico22.6
Utah22.5
Arkansas21.9
Idaho21.5
Alaska20.2
Kansas20.0
Iowa19.8
Montana19.5
Nebraska19.5
Wyoming19.1
North Dakota17.9
South Dakota17.9