Auto loan calculator
Are you shopping for a car and looking for financing options? Or are you considering refinancing an auto loan from another financial institution? Save with lower interest rates when you finance or refinance your vehicle loan with Mountain America Credit Union.
Estimate your monthly payment for a new or used vehicle purchase using the calculator below by providing the loan amount and selecting a rate option that works for you.
Calculate your auto loan payment¹
Today's Rate
New & Used Auto Loans
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Online auto calculator terms to know
Car loan amount
When you enter your car’s price into our online auto calculator, determine if you plan to trade in an old car or make a down payment as these factors will lower the cost of your loan. Use online appraisal sites to determine your current vehicle's trade-in value, then subtract this amount and your down payment from the vehicle purchase price.Loan term
Our car loan calculator includes the most common loan terms of 36, 48, 60 and 72 months. Choosing a longer loan term will decrease your monthly payment. However, you’ll be paying more in interest over the life of your loan.Car loan interest rate
The interest rate for car loans is also called the annual percentage rate or APR. APR is determined by several factors, such as:- Credit history. A higher credit score is one important factor in getting a lower interest rate.
- Current rates. The economic climate affects what rates are available when you apply for a loan.
- Down payment. Your interest rate is likely to be lower with a higher down payment and a smaller amount borrowed because this decreases the lender's risk.
- Loan term. Generally speaking, the longer your loan term, the higher your APR.
Today's auto rates
New & used car loans
36-month
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New & used car loans
48-month
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New & used car loans
60-month
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New car loans
72-month
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Buying new vs. used
Though used cars have a lower purchase cost, they come with an unknown driving history and potentially higher maintenance costs. When you purchase a new car, you get the latest features without worrying about driving history. Still, it comes at a higher price with larger monthly payments.
Before purchasing a vehicle, make sure to do your research to determine if a new or used car is best for you.
Leasing vs. buying
When looking for a vehicle, you can either lease or buy. If you lease a vehicle, you don’t have full ownership. Essentially, you’re borrowing the car for a set amount of time, typically three to four years. Leasing also means you’re restricted to a specific number of miles and must return the car in pristine condition.
To decide between leasing and buying, consider how much you drive and how much money you can afford to spend. If you can stay within the mileage restriction, leasing can be a good option if you want:
- Flexibility to try different types of vehicles.
- Freedom to upgrade to newer models.
- A lower monthly payment.
Buying comes with a higher monthly cost, but you don’t have to worry about mileage restrictions, and you’ll have full vehicle ownership once the loan is paid off—which means no car payment! If you are looking to keep the car long-term, buying is usually the cheaper option.
Get your low-rate new or used auto loan
Apply online, through the Mountain America mobile app or at a local branch. You can also ask for Mountain America financing at the dealership.Apply online
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