Car Loan Payment Calculator
How much should you spend on a car payment? There are different opinions on the percentage of your income you should spend on an auto loan, so consider all other monthly expenses and adjust for your personal budget. Our car payment calculator can help you estimate monthly car loan payments.
Enter different down payments, terms, and interest rates into the calculator to see how the monthly payment changes. The graph illustrates the estimated principal and interest rate shown over time for the loan. See what the estimated monthly payment looks like for different loan terms by clicking on the “Various Loan Terms” button. Click on the “Amortization” button, for a more detailed chart displaying the gradual reduction of debt over time.
Finance Your Car with Fifth Third Bank
Obtain a car loan with Fifth Third before you shop. We offer exclusive benefits like a 0.25% interest rate discount when you make a payment from a Fifth Third Checking Account. If you wish to reduce your monthly car payment in the future, you can consider refinancing to possibly reduce your interest rate or terms. Non-Fifth Third auto loans receive a 0.25% rate discount. Learn more about auto financing and apply now.
Car Loans and Credit Scores
Your credit score is an important factor when applying for a car loan and directly impacts the interest rate you may qualify for. Having a higher score means you may obtain a lower interest rate, reducing your monthly payment. Learn what factors contribute to your credit score.
Determine your maximum vehicle price and loan amount
Decide if leasing is preferable to borrowing to acquire a vehicle
Compare the loan term and interest rate of loans