Calculate Your Auto Loan and Apply Today
🚗 Auto Loan Calculator
Monthly EMI: -
Total Interest Payable: -
Total Payment: -
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How to use our Auto Loan Calculator
1. Enter Loan Details
- Loan Amount: Enter the amount you want to borrow, e.g., $10,000.
- Interest Rate: Enter the annual interest rate, e.g., 5%.
- Loan Term: Enter the duration in months, e.g., 60 months (5 years).
2. Click “Calculate EMI”
3. View Results:
- Monthly EMI: e.g., $188.71.
- Total Interest Payable: e.g., $13,222.60.
- Total Payment: e.g., $23,222.60.
A pie chart will show the split between principal and interest.
Bank of America
With Bank of America, you are only a few clicks away from applying for a new, used, or refinanced auto loan. Known for its competitive auto loan rates and broad accessibility, it offers flexible financing options for both new and used cars.
✅ Best For: Competitive rates and nationwide accessibility
💰 APR: 5.49%-6.09%
🚗 Loan Types: New vehicles, used vehicles, refinancing
💲 Loan Amounts: Minimum of $7,500
📅 Loan Terms: 24–72 months
💸 Fees: There are no early charges to apply for a loan.
📝 Eligibility: You must be at least 18, or have the ability to enter into a legal contract for auto financing in your state of residence. You must also be a U.S. citizen.
🔗 Official Website: Bank of America
⚡ What Makes Bank of America Stand Out:
- Allows you to select a repayment period that fits your financial situation, with terms generally ranging from 24 to 72 months.
- Provides a wide range of loan amounts for both new and used cars.
- With a pre-approval option, you can see your potential loan amount and interest rate before you shop for a car, giving you a stronger position when negotiating with a dealer.
- Provides a convenient and easy-to-use online application process with quick pre-qualification.
- Bank of America's online and mobile banking platforms will help you manage your loans, make payments, and track loan progress.
- Offers dedicated customer support to assist you throughout the loan process.
- Bill pay functionality allows you to make payments from a Bank of America checking account or from another financial institution.
- If you're a BoA Preferred Rewards member, you can get a rate discount of up to 0.50%.
- Requires a good to excellent credit score for the best rates.
- May charge higher APRs for borrowers with lower credit profiles.
- Loans are typically available only for vehicles purchased through franchised dealers (not private sellers).
Carvana
Carvana is a revolutionary online platform for car buying and financing, enabling you to shop, finance, and even have your car delivered without ever setting foot in a dealership. It's an excellent choice for tech-savvy buyers who want speed, convenience, and transparency.
✅ Best For: Online car shopping and fast financing
💰 APR: 6.85% - 16.46%
🚗 Loan Types: Used cars
💲 Loan Amounts: Starting at $1,000
📅 Loan Terms: 36–72 months
💸 Fees: No early charges; a $5 late fee applies after 16 days.
📝 Eligibility: You must be at least 18 years old, earn at least $5,100 per year, have no active bankruptcies, and have no Carvana loan defaults in the past two years.
🔗 Official Website: Carvana
⚡ What Makes Carvana Stand Out:
- Operates entirely online, allowing you to browse, finance, and purchase vehicles from the comfort of your home.
- Eliminates the stress of negotiating with salespeople and streamlines the process, making it more transparent and hassle-free.
- You can have your car delivered right to your doorstep or opt for a unique pickup experience from one of Carvana's iconic car vending machines.
- Offers a seven-day return policy, allowing you to test the car in your real-world routine.
- Carvana doesn't have a minimum credit score requirement.
- Not available in all states.
- Financing is only available for cars sold through Carvana.
FlexOffers
By comparing multiple lenders in one place, FlexOffers makes it easier to find a loan that fits your credit profile, budget, and repayment needs. It's ideal for individuals who want to compare prices and shop around for the best deal without having to submit multiple applications.
✅ Best For: Comparing multiple lenders in one place
💰 APR: Varies by lender
🚗 Loan Types: New vehicles, used vehicles, refinancing
💲 Loan Amounts: $1,000 – $100,000
📅 Loan Terms: 12–84 months
💸 Fees: There are no early charges to apply for a loan.
📝 Eligibility: Depends on the chosen lender
🔗 Official Website: FlexOffers
⚡ What Makes FlexOffers Stand Out:
- Provides access to **multiple financing options** in one place, making it easier to compare terms, rates, and conditions without visiting several dealerships.
- Explore loan opportunities tailored to both **new and used vehicles**, as well as refinancing options for existing loans.
- Provides access to lenders who work with a **wide range of credit scores**.
- Provides a clear view of available options, including interest rates, repayment terms, and eligibility criteria.
- FlexOffers is **not a direct lender**, so you can't get an immediate loan approval from the platform itself.
- It works as an affiliate network, so loan terms and interest rates **vary widely** depending on the lender, which may be confusing.
- You may face **higher APRs** if you have a poor credit score.
Auto Credit Express
Regardless of your good credit, low credit, or past bankruptcies, Auto Credit Express is here to help you get a car loan. It's not a direct lender; instead, it's a network connecting you with dealers and lenders that work with those who have challenged credit profiles.
✅ Best For: Borrowers with poor or limited credit history
💰 APR: Varies by lender
🚗 Loan Types: New vehicles, used vehicles, refinancing
💲 Loan Amounts: $5,000 – $45,000
📅 Loan Terms: 24 – 72 months
💸 Fees: There are no early charges to apply for a loan.
📝 Eligibility: You must be at least 18 and a U.S. citizen.
🔗 Official Website: Auto Credit Express
⚡ What Makes Auto Credit Express Stand Out:
- Connects you with a vast network of dealerships and lenders who are willing to work with **bad credit, no credit, or even bankruptcy histories**.
- Quick and easy car loan approval process, starting with an online form that takes only a few minutes to complete.
- Offer resources and guidance to help you understand their loan terms and conditions, so you can make more informed decisions, rather than simply rushing them into a deal.
- A long-standing reputation in the industry, having helped millions of people secure financing since 1999.
- Limited to **participating dealerships**.
- Interest rates can be **higher for those with poor credit**.
- Auto Credit Express is **not a direct lender**, so loan terms and approval depend on third-party lenders.
MyAutoLoan
MyAutoLoan is an online auto-loan marketplace that lets you compare multiple loan offers from different lenders with a single application, speeding up the financing process whether you're buying a new, used, refinancing, doing a lease buyout, or buying from a private seller.
✅ Best For: Convenience and comparison - if you're exploring multiple loan offers
💰 APR: New vehicles: 6.49%-7.99%, Used vehicles: 6.74%-8.24%, Refinance: 4.99%-5.50%
🚗 Loan Types: New vehicles, used vehicles, refinancing
💲 Loan Amounts: Starting at $8,000
📅 Loan Terms: 24 – 72 months
💸 Fees: There are no early charges to apply for a loan.
📝 Eligibility: Depends on the lender
🔗 Official Website: MyAutoLoan
⚡ What Makes MyAutoLoan Stand Out:
- Allow you to fill out **one application and receive up to four loan offers** within minutes, making it easier to compare interest rates, terms, and conditions.
- Caters to a wide range of borrowers, whether you're looking for a new or used car loan, refinancing, private party purchase, or even lease buyouts.
- MyAutoLoan has relatively **accessible eligibility requirements**, offering options for borrowers across various credit profiles, including those with less-than-perfect credit.
- Outlines key details such as APR ranges, loan terms, and fees upfront, so you're aware of what to expect before committing.
- Requires a minimum credit score of **575**, which excludes some borrowers with poor credit.
- Interest rates and loan terms can **vary significantly** depending on the lender selected.
- You must **manage multiple offers and lenders**, which may feel overwhelming.
Caribou
Caribou is an online lending marketplace focused solely on auto loan refinancing. It connects borrowers with multiple lenders through a streamlined digital process, making it easier to compare and select better rates and terms. You can access competitive rates in minutes, with a dedicated team available to walk you through the process.
✅ Best For: Borrowers looking to refinance and compare offers quickly and easily
💰 APR: 4.39% – 28.55%
🚗 Loan Types: Refinancing
💲 Loan Amounts: $5,000 – $125,000
📅 Loan Terms: 24 – 84 months
💸 Fees: Possible $499 processing fee charged by lenders.
📝 Eligibility: Minimum credit score: 580–600; minimum annual income: $24,000.
🔗 Official Website: Caribou
⚡ What Makes Caribou Stand Out:
- Compare rates from **multiple lenders and insurers** within minutes to make smarter financial decisions without being pressured by dealership financing.
- Many borrowers choose Caribou to **lower their monthly car payments**, reduce interest rates, or find better insurance deals.
- Provides **clear terms**, upfront details about fees, and support from real experts who'll guide you through the refinancing process.
- Caribou's services **aren't available in every U.S. state**.
- It focuses only on **auto loan refinancing and insurance**.
- Borrowers with poor credit may **not qualify for the best rates**.
- **Processing or lender fees** depend on the loan offer chosen.
Autopay
Autopay is an online auto-loan marketplace that offers new and used financing and refinancing through a broad network of lenders. Applying, comparing, and signing are all handled online, making it user-friendly for nearly all credit profiles.
✅ Best For: Borrowers seeking a digital, accessible financing or refinancing experience
💰 APR: 4.67% – 17.99%
🚗 Loan Types: New vehicles, used vehicles, refinancing, lease buyout
💲 Loan Amounts: $2,500 – $100,000
📅 Loan Terms: 24 – 96 months
💸 Fees: There are no early charges to apply for a loan.
📝 Eligibility: Minimum credit score: 600.
🔗 Official Website: Autopay
⚡ What Makes Autopay Stand Out:
- Connects you with a **wide range of trusted lenders** so that you can secure the best possible rates and terms tailored to your financial situation.
- Offers a seamless way to **refinance and lower your monthly payments**.
- Offer competitive APRs and the ability to **extend loan terms** to help you improve your cash flow without unnecessary hassle.
- Allows you to **apply, compare, and finalize loans** without needing to visit multiple banks or credit unions.
- Autopay works as a loan marketplace, so **final terms depend on the partner lender** you choose.
- Rates and approval **vary based on credit score** and financial profile.
- Some lenders may **charge additional fees** or have stricter requirements.
- **Not available in all states**, which can restrict access for certain borrowers.
Upstart
Upstart is a fully digital, AI-powered lending marketplace that specializes in auto loan refinancing. Its underwriting model is unique, factoring in education, employment, and credit to help borrowers with limited or thin credit histories qualify for competitive rates more quickly.
✅ Best For: Refinance auto loan, even if you have a limited credit history
💰 APR: Starting at 7.80%
🚗 Loan Types: Refinancing
💲 Loan Amounts: $3,000 – $60,000
📅 Loan Terms: 24 – 84 months
💸 Fees: There are no early charges to apply for a loan.
📝 Eligibility: Vehicle must be under 13 years old, fewer than 140,000 miles, and currently registered and owned by the borrower—no salvage titles or unresolved liens allowed. Borrowers with scores as low as 300 can qualify.
🔗 Official Website: Upstart
⚡ What Makes Upstart Stand Out:
- Upstart uses **artificial intelligence and machine learning** to evaluate borrowers, allowing it to approve more applicants that conventional lenders may have overlooked.
- Provides **instant approval and same-day funding** for quick decisions.
- The entire process, from application to loan disbursement, is **streamlined online**, eliminating the need for paperwork-heavy procedures.
- Provides **upfront details** regarding what to expect in terms of rates, terms, and fees, with no hidden costs buried in the fine print.
- **Limited availability of auto loans** compared to personal loans.
- Auto refinancing may **not be available in every state**.
- Not all applicants **qualify for the lowest advertised rates**.
Consumers Credit Union
Consumers Credit Union is a member-owned, not-for-profit credit union based in Michigan, dedicated to offering competitive auto loan rates and personalized service to its members. Their standout car-buying service simplifies the vehicle purchasing process and can even lower your rate further.
✅ Best For: Low APRs, personalized service, and added savings
💰 APR: Starting at 3.99%
🚗 Loan Types: New vehicle, used vehicle
💲 Loan Amounts: Determined based on income and other factors
📅 Loan Terms: Ranges from 0–60, 61–72, to 73–84 months
💸 Fees: There are no early charges to apply for a loan.
📝 Eligibility: Borrower must be a CCU member; lease buyouts and private-party purchases are not allowed.
🔗 Official Website: Consumers Credit Union
⚡ What Makes Consumers Credit Union Stand Out:
- Offers a wide range of **financial products** tailored to fit different lifestyles and budgets.
- Provides flexibility in both loan options and **membership accessibility** (anyone across the country can join).
- Offer some of the **lowest interest rates** on auto loans, often beating out banks and online lenders.
- You can also benefit from **flexible loan terms**, making it a strong choice for both first-time car buyers and those looking to lower their existing payments.
- Beyond auto loans, Consumers Credit Union differentiates itself with its **broad suite of financial services** (mortgages, credit cards, personal loans).
- CCU's **digital banking tools** are also highly rated, providing the convenience of online applications, mobile banking, and account management.
- **Membership is required** before applying for loans.
- Loan approval may take longer compared to online-only lenders with **instant decisions**.
- Rates and terms may vary depending on credit score and financial history.
1800FreshStart Auto Loan
1800FreshStart is an online auto loan broker, not a direct lender, that connects borrowers, particularly those with poor or no credit, to a vast network of lenders and dealership partners across the U.S., aiming to help them secure financing regardless of credit challenges.
✅ Best For: Individuals with bad, no, or limited credit history, including those with bankruptcies
💰 APR: Varies widely depending on lender
🚗 Loan Types: New vehicle, used vehicle, refinancing
💲 Loan Amounts: $3,000 to $45,000
📅 Loan Terms: 24 to 84 months
💸 Fees: There are no early charges to apply for a loan.
📝 Eligibility: Not disclosed (Varies by lending partner)
🔗 Official Website: 1800FreshStart
⚡ What Makes 1800FreshStart Auto Loan Stand Out:
- Focuses more on helping individuals **rebuild their credit** while getting access to an auto loan.
- Works directly with a **network of dealerships and lenders** to match applicants with vehicles and financing options that fit their situation.
- By making on-time payments, you can **improve your credit scores** over time, which opens the door to better loan terms in the future.
- 1800FreshStart's online application process is **quick, simple, and transparent**, allowing you to get started without unnecessary barriers.
- **Higher interest rates** compared to traditional lenders.
- **Limited vehicle selection** (dependent on dealer network inventory).
- May require a **larger down payment** to secure approval.
- Not the best option for people with **good or excellent credit**.