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This calculator is for general education purposes only and is not an illustration of current Navy Federal products and offers.

How This Auto Loan Calculator Works

Enter the purchase price, monthly payment, down payment, term and interest rate to see how different loan terms or down payments can impact your monthly payment and what it will take to pay off your car loan.

Explanation of Terms

Purchase Price: It is recommended that the monthly auto loan payment alone is limited to about 10% to 15% of your after-tax take-home pay. A lower purchase price will make it easier to achieve affordable monthly payments but there are many good reasons to spend more on a car that will last longer or provide what your household needs.

Down Payment: A higher down payment will allow for lower interest rates as well as reduced monthly payments and a shorter term length. Raising this amount by saving before the purchase can largely affect the overall cost of a car, making more options affordable for a household.

Loan Terms: A loan term is the amount of time you will be paying your monthly auto loan payments -- how long your car loan payoff will take. Longer term loans allow for a smaller monthly payment but add up to larger amounts of interest paid on a car in total.

Interest Rate: A car loan’s interest rate will depend on a few factors including credit score, term length, down payment, and lender. The lowest interest rates will be available for buyers with high credit scores, large down payments, short term lengths, and who take out loans with credit unions like Navy Federal rather than a bank or other alternative lender.

Additional Resources

Shop for Your Next Car With Our Car Buying Service

Shop, compare and get up-front price offers through the Car Buying Service, powered by TrueCar®. 

Learn more about Navy Federal's Car Buying Service

Registration & Titling

Learn the ins and outs of the car registration process.

Learn More

Already Have an Auto Loan With Another Lender?

If you didn't finance your auto loan at Navy Federal, now's your chance! Refinance with us and get $200!1

Learn more about car refinancing rates

Auto Learning Center

How to Apply for an Auto Loan

Get a great rate with an easy application process, plus decisions in seconds.

Learn More

Auto Loan Preapproval Process

A preapproval allows you to shop with confidence, knowing how much car you can afford.

Learn More

Make Sense of the Car-Buying Process

Get clear, step-by-step information on the car-buying process, from understanding car costs to making the deal.

Learn more about the car-buying process



Credit and collateral subject to approval. Existing Navy Federal loans are not eligible for this offer. Auto refinance loan must be at least $5,000. Loan must be open for at least 60 days with first scheduled payment made to be eligible for the $200, which will be credited to the primary applicant’s savings account between 61 and 65 days of the loan origination date. Offer may end at any time. Recipient is solely responsible for any personal tax liability arising out of this incentive.

This content is intended to provide general information and shouldn't be considered legal, tax or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.