$45,000 Car Loan for 36 Months

What's the monthly payment on a $45,000 car with a 36 month (3 year) loan?
Purchase Price
$
Down Payment
$
Interest Rate
%
Loan Term
Monthly payment = $861
Total yearly payments = $10,335
Payments by Interest Rate
Interest Rate Monthly Payment
1.5% $1,023
2.5% $1,039
3.5% $1,055
4.5% $1,071
5.5% $1,087
6.5% $1,103
7.5% $1,120
8.5% $1,136
9.5% $1,153
Payments by Amount Down
Down Monthly Payment
$0 $1,388
$2,000 $1,327
$5,000 $1,234
$8,000 $1,142
$10,000 $1,080
$15,000 $926
Payments by Loan Length
Length Payment
24 months $1,611
36 months $1,111
48 months $861
60 months $712
72 months $613
84 months $542
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