$18,000 car loan payment
$357.61/month principal and interest, before sales tax
$3,457 total interest over 60 months
Principal $18,000 Interest $3,457. 16¢ of every dollar paid goes to interest.
60 months at 7.14%, the Federal Reserve's average finance rate on 60-month new-car loans at commercial banks (May 2026 survey).
Source: Federal Reserve G.19, May 2026 survey. An average, not an offer.
By credit score
| Credit tier | Score | New-car APR | Payment | Used-car APR | Payment |
|---|---|---|---|---|---|
| Super prime | 781–850 | 4.41% | $334.84 | 6.29% | $350.42 |
| Prime | 661–780 | 6.23% | $349.92 | not reported | — |
| Near prime | 601–660 | 9.67% | $379.53 | not reported | — |
| Subprime | 501–600 | 13.44% | $413.62 | not reported | — |
| Deep subprime | 300–500 | 16.11% | $438.78 | 21.62% | $493.26 |
Averages across lenders for loans originated in the quarter, not offers. All tiers combined: 6.35% new, 11.19% used.
By loan term
With sales tax
| State tax rate sales tax (statewide base incl. 1.25% uniform local) | 7.25% |
|---|---|
| Trade-in credit | no |
| Taxable amount | $18,000 |
| Sales tax | $1,305 |
| Financed (price − trade-in + tax) | $19,305 |
| Monthly payment with tax | $383.54 |
Trade-in is treated as payment and does not reduce the taxable selling price (CDTFA Pub 34). District taxes add on top of 7.25% depending on the registration address. Only states whose rules we have verified are listed.
Payment and income
The $357.61 payment is 10% of gross income at $42,913 a year and 15% at $28,609. Insurance, fuel and maintenance come on top.
Amortization schedule
First 12 months
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $250.51 | $107.10 | $17,749.49 |
| 2 | $252.00 | $105.61 | $17,497.49 |
| 3 | $253.50 | $104.11 | $17,243.98 |
| 4 | $255.01 | $102.60 | $16,988.97 |
| 5 | $256.53 | $101.08 | $16,732.45 |
| 6 | $258.05 | $99.56 | $16,474.39 |
| 7 | $259.59 | $98.02 | $16,214.80 |
| 8 | $261.13 | $96.48 | $15,953.67 |
| 9 | $262.69 | $94.92 | $15,690.98 |
| 10 | $264.25 | $93.36 | $15,426.73 |
| 11 | $265.82 | $91.79 | $15,160.91 |
| 12 | $267.40 | $90.21 | $14,893.51 |
Year by year
| Year | Principal | Interest | Balance at year end |
|---|---|---|---|
| 1 | $3,106 | $1,185 | $14,894 |
| 2 | $3,336 | $956 | $11,558 |
| 3 | $3,582 | $710 | $7,976 |
| 4 | $3,846 | $445 | $4,130 |
| 5 | $4,130 | $161 | $0 |
| Total | $18,000 | $3,457 | $0 |
Full schedule, all 60 payments
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | 250.51 | 107.10 | 17,749.49 |
| 2 | 252.00 | 105.61 | 17,497.49 |
| 3 | 253.50 | 104.11 | 17,243.98 |
| 4 | 255.01 | 102.60 | 16,988.97 |
| 5 | 256.53 | 101.08 | 16,732.45 |
| 6 | 258.05 | 99.56 | 16,474.39 |
| 7 | 259.59 | 98.02 | 16,214.80 |
| 8 | 261.13 | 96.48 | 15,953.67 |
| 9 | 262.69 | 94.92 | 15,690.98 |
| 10 | 264.25 | 93.36 | 15,426.73 |
| 11 | 265.82 | 91.79 | 15,160.91 |
| 12 | 267.40 | 90.21 | 14,893.51 |
| 13 | 269.00 | 88.62 | 14,624.51 |
| 14 | 270.60 | 87.02 | 14,353.91 |
| 15 | 272.21 | 85.41 | 14,081.71 |
| 16 | 273.83 | 83.79 | 13,807.88 |
| 17 | 275.45 | 82.16 | 13,532.43 |
| 18 | 277.09 | 80.52 | 13,255.33 |
| 19 | 278.74 | 78.87 | 12,976.59 |
| 20 | 280.40 | 77.21 | 12,696.19 |
| 21 | 282.07 | 75.54 | 12,414.12 |
| 22 | 283.75 | 73.86 | 12,130.37 |
| 23 | 285.44 | 72.18 | 11,844.94 |
| 24 | 287.13 | 70.48 | 11,557.80 |
| 25 | 288.84 | 68.77 | 11,268.96 |
| 26 | 290.56 | 67.05 | 10,978.40 |
| 27 | 292.29 | 65.32 | 10,686.11 |
| 28 | 294.03 | 63.58 | 10,392.08 |
| 29 | 295.78 | 61.83 | 10,096.30 |
| 30 | 297.54 | 60.07 | 9,798.76 |
| 31 | 299.31 | 58.30 | 9,499.45 |
| 32 | 301.09 | 56.52 | 9,198.36 |
| 33 | 302.88 | 54.73 | 8,895.48 |
| 34 | 304.68 | 52.93 | 8,590.80 |
| 35 | 306.50 | 51.12 | 8,284.30 |
| 36 | 308.32 | 49.29 | 7,975.98 |
| 37 | 310.15 | 47.46 | 7,665.83 |
| 38 | 312.00 | 45.61 | 7,353.83 |
| 39 | 313.86 | 43.76 | 7,039.97 |
| 40 | 315.72 | 41.89 | 6,724.25 |
| 41 | 317.60 | 40.01 | 6,406.64 |
| 42 | 319.49 | 38.12 | 6,087.15 |
| 43 | 321.39 | 36.22 | 5,765.76 |
| 44 | 323.31 | 34.31 | 5,442.45 |
| 45 | 325.23 | 32.38 | 5,117.22 |
| 46 | 327.16 | 30.45 | 4,790.06 |
| 47 | 329.11 | 28.50 | 4,460.95 |
| 48 | 331.07 | 26.54 | 4,129.88 |
| 49 | 333.04 | 24.57 | 3,796.84 |
| 50 | 335.02 | 22.59 | 3,461.82 |
| 51 | 337.01 | 20.60 | 3,124.81 |
| 52 | 339.02 | 18.59 | 2,785.79 |
| 53 | 341.04 | 16.58 | 2,444.75 |
| 54 | 343.07 | 14.55 | 2,101.69 |
| 55 | 345.11 | 12.51 | 1,756.58 |
| 56 | 347.16 | 10.45 | 1,409.42 |
| 57 | 349.23 | 8.39 | 1,060.19 |
| 58 | 351.30 | 6.31 | 708.89 |
| 59 | 353.39 | 4.22 | 355.50 |
| 60 | 355.50 | 2.12 | 0.00 |
Questions
What is the monthly payment on a $18,000 car loan for 60 months?
$357.61 at 7.14%, the average commercial-bank rate in the Fed's latest survey. Total interest is $3,457.
How much is a $18,000 car loan with bad credit?
At Experian's Q2 2026 average for subprime borrowers (scores 501–600, 13.44% on new cars), $413.62 a month over 60 months, versus $349.92 for prime borrowers.
Is 60 or 72 months better for a $18,000 car loan?
At the same 7.14% rate, 72 months lowers the payment from $357.61 to $308.09 but adds $726 in interest, and longer loans usually carry higher rates.
What income do I need for a $18,000 car loan?
The $357.61 payment is 10% of gross income at $42,913 a year and 15% at $28,609. Many budgets keep car payments near 10–15% of income.
How much does sales tax add to a $18,000 car in California?
$1,305 at the 7.25% state rate (no trade-in credit in this state). Financed with the car, it raises the payment to $383.54. Local taxes can add more.
Sources
- New-car loan, 60 months average: 7.14%. Federal Reserve G.19 Consumer Credit, terms of credit at commercial banks, series RIFLPBCIANM60NM, as of May 1, 2026; retrieved September 26, 2026.
- Average auto loan APR by credit tier. Experian State of the Automotive Finance Market, Q2 2026; retrieved September 26, 2026.
- State vehicle sales tax and trade-in rules. State revenue departments and DMVs; state rate only, local taxes excluded.
Numbers on this page last changed September 26, 2026. How they are calculated: methodology.