Car Payment Calculator
Calculate your monthly payment and detect dealer rate markups using real Experian credit tier data.
Frequently Asked Questions
How do I know if a dealer is marking up my auto loan rate?
Compare the APR the dealer quotes you against market averages for your credit score range. If the dealer's rate is 1-3% higher than the average for your tier, the dealer is likely adding a markup (called 'dealer reserve') and pocketing the difference. Always get pre-approved through your bank or credit union first.
What is the average car payment in 2026?
According to Experian, the average new car payment in 2026 is approximately $738/month (69-month term), and the average used car payment is about $532/month (67-month term). These vary significantly by credit score and loan amount.
Should I choose a longer loan term to lower my payment?
Longer terms (72-84 months) reduce your monthly payment but cost significantly more in total interest. For example, extending from 60 to 84 months on a $30,000 loan at 7% APR adds roughly $2,800 in interest. Consider the shortest term you can comfortably afford.
How much does a dealer make on auto loan markup?
On a typical $30,000 loan over 60 months, a 2% rate markup generates approximately $1,700 in extra interest that goes to the dealer as profit. Dealers are legally allowed to mark up rates in most states, though some states cap the spread.