Loanweek

Prime vs subprime auto loan

$106.17/month difference in monthly payment

$6,370 difference in total interest

Prime (6.23%): $583.20 a month. Subprime (13.44%): $689.37 a month.

Source: Experian Q2 2026 average APRs, 60 months. New cars. An average, not an offer.

Side by side

Prime (6.23%)Subprime (13.44%)
Amount borrowed$30,000$30,000
Rate6.23%13.44%
Monthly payment$583.20$689.37
Paid off in5 years5 years
Total interest$4,992$11,362
Balance remaining: Prime (6.23%) vs Subprime (13.44%)Loan balance at the end of each year for both options.Prime (6.23%)Subprime (13.44%)$0$10k$20k$30kStartYear 2Year 5Prime (6.23%), Start: $30kPrime (6.23%), Year 1: $24.7kPrime (6.23%), Year 2: $19.1kPrime (6.23%), Year 3: $13.1kPrime (6.23%), Year 4: $6.8kPrime (6.23%), Year 5: $0Subprime (13.44%), Start: $30kSubprime (13.44%), Year 1: $25.5kSubprime (13.44%), Year 2: $20.3kSubprime (13.44%), Year 3: $14.4kSubprime (13.44%), Year 4: $7.7kSubprime (13.44%), Year 5: $0

Questions

Which has the lower monthly payment?

Prime (6.23%), by $106.17 a month ($583.20 vs $689.37).

Which costs less overall?

Prime (6.23%) saves $6,370 in interest ($4,992 vs $11,362).

What rates are these figures based on?

Experian Q2 2026 average APRs, 60 months. New cars.

Can I compare a different amount?

Yes: change the amount above and press Compare. The page recalculates with the same rates.

Sources

Numbers on this page last changed September 26, 2026. How they are calculated: methodology.