Man standing with car purchased with auto loan

Auto Loan Calculator

Buying your next car means a lot of things, but it shouldn’t mean high monthly payments and steep interest rates! With Wasatch Peaks Credit Union, your next auto loan could be saving you money with every payment.

Use the auto loan calculator below to start calculating some personalized monthly payment estimates.

Auto Loan Calculator

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Monthly Payment
*Monthly payment is an estimate and rounded to the nearest dollar amount. Does not include license, fees, or sales tax.
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Auto Loan Calculator Terms

An understanding of the following can help you calculate accurate monthly car payments and make an informed decision on your auto loan terms:

Loan amount

The amount of money you choose to borrow for the loan. Note that this does not say ‘price of car.’ Only type in your loan amount, and not your actual vehicle cost.

Down payment

This is the amount of money you choose to put down to secure your vehicle.

Term (in years)

This is the amount of time you plan to make payments on your vehicle. Enter your term in years rather than months (i.e. 60 months is 5 years).

Factors Impacting Auto Loan Rates

When using the auto loan calculator, input your projected interest rate. Your rate is based on several factors. Here are a few of the most important:

Credit score

The higher your credit score, the lower APR rates you will qualify for.

Vehicle age

Newer vehicles are more expensive upfront, but they cost less to finance. Used vehicles often cost more in interest, but have a much lower price tag.

Term length

The longer your term, the lower your payments because you’re extending the repayment period. Because of this, you will likely pay more interest over time. The opposite is true of choosing a shorter term length.

How To Estimate The Most Accurate Loan Payment

To determine the most accurate loan payment, you will need to consider the following questions:

  • What is my credit score?

  • Is my desired vehicle new or used?

  • What is my debt-to-income ratio?

  • What term length can I afford?


Choose Wasatch Peaks Credit Union For Your Auto Loan

At Wasatch Peaks Credit Union, we'll work with you to make sure you receive the car loan that's right for your situation. Whether you're a first-time buyer or a vehicle owner looking to refinance, we can help. With our competitive rates and flexible repayment options, you'll be on the road to savings in no time.

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