$60,000 Car Loan at 5%

What's the monthly payment on a $60,000 car with a 5 percent loan?
Purchase Price
$
Down Payment
$
Interest Rate
%
Loan Term
After down payment, the auto loan will be $48,000.
At 5% interest with a 48 month loan:
Monthly payment = $1,105
Total yearly payments = $13,265
Payments by Interest Rate
Interest Rate Monthly
5.00% $1,105
5.25% $1,111
5.50% $1,116
5.75% $1,122
5.90% $1,125
5.95% $1,126
5.99% $1,127
Payments by Amount Down
Down Monthly
$0 $1,382
$2,000 $1,336
$5,000 $1,267
$8,000 $1,198
$10,000 $1,151
$15,000 $1,036
Payments by Loan Length
Length Monthly
24 months $2,106
36 months $1,439
48 months $1,105
60 months $906
72 months $773
84 months $678
How to Get a Good Rate on Your Car Loan
When you buy a car, you actually have three separate things you need to negotiate with the dealer.
  1. The price of the car
  2. The price of the trade-in
  3. The loan
To confuse customers, dealers will try to wrap this all together into one monthly payment. Don't fall for it. First negotiate the car, then the trade-in, and finally the loan.
When you're ready to buy a car or truck, go to a couple of banks first. Get pre-qualified for a loan. If the dealer can give you a better rate, that's great. If not, go with the bank loan.
Gas Taxes by U.S. State
Source: Tax Policy Center (January 1, 2023)
Note: These taxes are on top of the $0.184 federal tax.
State Tax per Gallon
California$0.629
Pennsylvania$0.576
Washington$0.494
Illinois$0.434
Maryland$0.427
New Jersey$0.414
North Carolina$0.408
Ohio$0.385
Oregon$0.380
Utah$0.364
Florida$0.352
Rhode Island$0.350
Idaho$0.330
Indiana$0.330
Montana$0.330
Vermont$0.330
Wisconsin$0.329
West Virginia$0.327
Georgia$0.312
Iowa$0.300
Maine$0.300
South Dakota$0.300
Nebraska$0.299
South Carolina$0.288
Michigan$0.286
Minnesota$0.286
Alabama$0.280
Virginia$0.280
Tennessee$0.274
New York$0.262
Kentucky$0.260
Connecticut$0.250
Arkansas$0.249
Kansas$0.240
Massachusetts$0.240
Wyoming$0.240
Nevada$0.238
New Hampshire$0.238
Delaware$0.230
North Dakota$0.230
Missouri$0.225
Colorado$0.220
Louisiana$0.201
Texas$0.200
Arizona$0.190
Oklahoma$0.190
New Mexico$0.189
Mississippi$0.184
Hawaii$0.160
Alaska$0.090