$20,000 car loan: monthly payments by term and interest rate
A $20,000 car loan costs between $301.85 and $617.54 a month at 7% APR, depending on the term. Pick a term below to see the full cost, or use the table to compare rates.
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Monthly payment on $20,000 by term and APR
Read across for the interest rate and down for the length of the loan.
$20,000 car loan: monthly payment
| Term | 4% APR | 5.5% APR | 7% APR | 9% APR | 12% APR | 15% APR |
|---|---|---|---|---|---|---|
| 3 years | $590.48 | $603.92 | $617.54 | $635.99 | $664.29 | $693.31 |
| 4 years | $451.58 | $465.13 | $478.92 | $497.70 | $526.68 | $556.61 |
| 5 years | $368.33 | $382.02 | $396.02 | $415.17 | $444.89 | $475.80 |
| 6 years | $312.90 | $326.76 | $340.98 | $360.51 | $391.00 | $422.90 |
| 7 years | $273.38 | $287.40 | $301.85 | $321.78 | $353.05 | $385.94 |
Fixed rate, equal monthly payments, no fees.
$20,000 over each term
Sources and further reading
Questions people ask
What is the cheapest way to borrow $20,000?
The cheapest loan has the lowest APR and the shortest term you can afford, with no origination fee. Compare banks, credit unions and online lenders using prequalification, which uses a soft credit check.
Results are estimates for information only, not financial advice. Read the full disclaimer.
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