With good credit, the monthly payment on a $25,000 new car loan over 60 months is $492.67 at 6.8% APR. Total interest: $4,560. Payoff date: January 2030.
New Car: Monthly Payment by Credit Score
Credit Tier
Rate (APR)
Monthly Payment
Total Interest
● Excellent (750+)
5.2%
$474.07
$3,444
● Good (700–749)
6.8%
$492.67
$4,560
● Fair (640–699)
10.5%
$537.35
$7,241
● Poor (below 640)
15.8%
$605.30
$11,318
New vs Used Car Rates (Good Credit)
Loan Type
Rate
Monthly Payment
Total Interest
New Car
6.8%
$492.67
$4,560
Used Car
9.2%
$521.39
$6,283
Payment by Loan Term (Good Credit, New Car)
Term
Monthly Payment
Total Interest
36 months
$769.64
$2,707
48 months
$596.34
$3,624
60 months current
$492.67
$4,560
72 months
$423.83
$5,516
84 months
$374.88
$6,490
How to Qualify for an Auto Loan
For a $25,000 auto loan, most lenders look for a minimum credit score of 580–620, though scores above 700 unlock the best new-car rates near 5.2%. Your debt-to-income ratio should be below 45%. New car loans typically carry lower rates than used — expect a 2.4% premium for used vehicles with good credit. Dealer financing and bank pre-approval are worth comparing before signing; credit unions often beat both on rate.