So you want to buy a new or used vehicle, but aren’t sure what price range you can actually afford? It all starts with your budget. Take an honest look and see how much money you can put toward a vehicle loan payment while still fulfilling your other financial obligations. Then decide how long you’re willing to spend paying off the vehicle. Here are some tips to help you calculate:
- Base your calculation on the monthly payment you can realistically afford.
- Enter the interest rate for which you think you’ll qualify.
- Estimate sales tax based on the guidelines of the state(s) where you plan to buy and register your vehicle.
- If you’re trading-in your current vehicle, get an idea of its value.
| Loan Program | Term | Annual Percentage Rate (As Low As) 1 |
|---|---|---|
| 2021-23 Model Year | 48 Months | 6.09% APR |
| 2021-23 Model Year | 60 Months | 6.14% APR |
| 2021-23 Model Year | 66 Months | 6.19% APR |
| 2021-23 Model Year | 72 Months | 6.29% APR |
| 2021-23 Model Year | 78 Months | 6.39% APR |
| 2021-23 Model Year | 84 Months | 6.49% APR |
| 2019-20 Model Year | 48 Months | 6.44% APR |
| 2019-20 Model Year | 60 Months | 6.49% APR |
| 2019-20 Model Year | 66 Months | 6.54% APR |
| 2019-20 Model Year | 72 Months | 6.64% APR |
| 2017-18 Model Year | 48 Months | 7.14% APR |
| 2017-18 Model Year | 60 Months | 7.19% APR |
| 2017-18 Model Year | 72 Months | 7.34% APR |
| 2014-16 Model Year | 36 Months | 7.24% APR |
| 2014-16 Model Year | 48 Months | 7.29% APR |
| 2014-16 Model Year | 60 Months | 7.34% APR |
| 2013 Model Year (and older) | 36 Months | 9.74% APR |
| 2013 Model Year (and older) | 48 Months | 9.84% APR |
| Auto loan payment example for illustrative purposes only: If you borrow $30,000 at a 6.14% annual percentage rate (APR) with a 60-month term, your minimum monthly payment obligation would be $582.02. Over the life of the loan, you will pay $4,920.62 in interest. 1 Auto Loan Rates: Loan annual percentage rates (APR) based on member credit qualification and total loan amount. Mini-Max Loans: Add 1% to conventional rates. Rates effective 5/19/2023. All loans are subject to approval. Rates, terms, and conditions are subject to change. |
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