How much are the payments on a $40,000 Car?

Q: How much are the payments on a $40,000 Car?

The monthly car payments on a 40,000 dollar car loan range from $688.96 to $1,121.08. Payments vary based on your credit score, and the sales tax rate of your state, and whether you are financing a new or a used car.

How Much are Payments on a $40,000 Car?

The car payments on a 40,000 dollar car loan vary based on the type of vehicle, new versus used, your credit score, and the sales tax rate of your state. The monthly car payments on a $40K car loan range from $688.96 to $1,121.08. Payments vary based on your credit score, and the sales tax rate of your state, and whether you are financing a new or a used car.

Monthly payments displayed for a $40,000 car are based on the out the door price of $43,500.62 which includes average sales tax, DMV fees, Dealer fees, as well as a $0 down payment.

TOTAL COST OF A $40,000 CAR
Car Price	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Out the Door Price	$43,500.62

What are Car Payments on a $40,000 New Car?

With a lower credit score the interest rate increases and the term decreases. For that reason payments on a 40,000 dollar new car loan increase as the credit score decreases. Displayed monthly payments are based on the Out the Door Price of $43,500.62, $0 down and the average Q3 2023 interest rate based on credit score.

Credit	Score	Term	Rate*	Payment	Add Cash	Details
Great Credit	781-850	75	5.61%	$688.96	$0	+ Expand Car Loan Details
Good Credit	661-780	75	6.88%	$715.26	$0	+ Expand Car Loan Details
Fair Credit	601-660	72	9.29%	$790.40	$0	+ Expand Car Loan Details
Poor Credit	501-600	72	11.86%	$847.28	$0	+ Expand Car Loan Details
Bad Credit	300-500	72	14.17%	$900.33	$0	+ Expand Car Loan Details

Item	Amount
Target Deal Price⁽¹⁾	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Cash Sale Price	$43,500.62
Trade-In Value	$0.00
Less Payoff	0.00
Net Trade Allowance	$0.00
Cash Down Payment⁽²⁾	0.00
Factory Rebate Incentive	0.00
Total Down Payment	$0.00
Total Loan Amount	$43,500.62
Interest Rate (APR)⁽³⁾	5.61%
Term / Months⁽³⁾	75
Auto Loan Payment	$688.96

(1) Calculations are based on the target price of $40,000.00. Actual price set by dealer.

(2) Down payment is based the greater of customer input or the amount needed not to exceed the Loan to Value of 130%.

(3) Interest rate of 5.61% and term are based on the national average for a Credit Score Range from 781-850. Actual interest rate and term set by lender.

Item	Amount
Target Deal Price⁽¹⁾	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Cash Sale Price	$43,500.62
Trade-In Value	$0.00
Less Payoff	0.00
Net Trade Allowance	$0.00
Cash Down Payment⁽²⁾	0.00
Factory Rebate Incentive	0.00
Total Down Payment	$0.00
Total Loan Amount	$43,500.62
Interest Rate (APR)⁽³⁾	6.88%
Term / Months⁽³⁾	75
Auto Loan Payment	$715.26

(1) Calculations are based on the target price of $40,000.00. Actual price set by dealer.

(2) Down payment is based the greater of customer input or the amount needed not to exceed the Loan to Value of 125%.

(3) Interest rate of 6.88% and term are based on the national average for a Credit Score Range from 661-780. Actual interest rate and term set by lender.

Item	Amount
Target Deal Price⁽¹⁾	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Cash Sale Price	$43,500.62
Trade-In Value	$0.00
Less Payoff	0.00
Net Trade Allowance	$0.00
Cash Down Payment⁽²⁾	0.00
Factory Rebate Incentive	0.00
Total Down Payment	$0.00
Total Loan Amount	$43,500.62
Interest Rate (APR)⁽³⁾	9.29%
Term / Months⁽³⁾	72
Auto Loan Payment	$790.40

(1) Calculations are based on the target price of $40,000.00. Actual price set by dealer.

(2) Down payment is based the greater of customer input or the amount needed not to exceed the Loan to Value of 120%.

(3) Interest rate of 9.29% and term are based on the national average for a Credit Score Range from 601-660. Actual interest rate and term set by lender.

Item	Amount
Target Deal Price⁽¹⁾	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Cash Sale Price	$43,500.62
Trade-In Value	$0.00
Less Payoff	0.00
Net Trade Allowance	$0.00
Cash Down Payment⁽²⁾	0.00
Factory Rebate Incentive	0.00
Total Down Payment	$0.00
Total Loan Amount	$43,500.62
Interest Rate (APR)⁽³⁾	11.86%
Term / Months⁽³⁾	72
Auto Loan Payment	$847.28

(1) Calculations are based on the target price of $40,000.00. Actual price set by dealer.

(2) Down payment is based the greater of customer input or the amount needed not to exceed the Loan to Value of 115%.

(3) Interest rate of 11.86% and term are based on the national average for a Credit Score Range from 501-600. Actual interest rate and term set by lender.

Item	Amount
Target Deal Price⁽¹⁾	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Cash Sale Price	$43,500.62
Trade-In Value	$0.00
Less Payoff	0.00
Net Trade Allowance	$0.00
Cash Down Payment⁽²⁾	0.00
Factory Rebate Incentive	0.00
Total Down Payment	$0.00
Total Loan Amount	$43,500.62
Interest Rate (APR)⁽³⁾	14.17%
Term / Months⁽³⁾	72
Auto Loan Payment	$900.33

(1) Calculations are based on the target price of $40,000.00. Actual price set by dealer.

(2) Down payment is based the greater of customer input or the amount needed not to exceed the Loan to Value of 110%.

(3) Interest rate of 14.17% and term are based on the national average for a Credit Score Range from 300-500. Actual interest rate and term set by lender.

What are Car Payments on a $40,000 Used Car

When compared to new car loans, used car loans have a higher interest rate and a shorter paybeck term. For that reason payments on a 40,000 dollar used car loan are higher than the same loan amount for a new car. Displayed monthly payments are based on $0 down and the average Q3 2023 interest rate based on credit score.

Credit	Score	UsedTerm	Rate*	Payment	Add Cash	Details
Great Credit	781-850	72	7.43%	$750.66	$0	+ Expand Car Loan Details
Good Credit	661-780	72	9.33%	$791.27	$0	+ Expand Car Loan Details
Fair Credit	601-660	72	13.53%	$885.45	$0	+ Expand Car Loan Details
Poor Credit	501-600	72	18.39%	$1001.77	$0	+ Expand Car Loan Details
Bad Credit	300-500	66	21.18%	$1121.08	$0	+ Expand Car Loan Details

*Source: Experian Q3 2023

Item	Amount
Target Deal Price⁽¹⁾	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Cash Sale Price	$43,500.62
Trade-In Value	$0.00
Less Payoff	0.00
Net Trade Allowance	$0.00
Cash Down Payment⁽²⁾	0.00
Factory Rebate Incentive	0.00
Total Down Payment	$0.00
Total Loan Amount	$43,500.62
Interest Rate (APR)⁽³⁾	14.17%
Term / Months⁽³⁾	72
Auto Loan Payment	$750.66

(1) Calculations are based on the target price of $40,000.00. Actual price set by dealer.

(2) Down payment is based the greater of customer input or the amount needed not to exceed the Loan to Value of 130%.

(3) Interest rate of 14.17% and term are based on the national average for a Credit Score Range from 781-850. Actual interest rate and term set by lender.

Item	Amount
Target Deal Price⁽¹⁾	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Cash Sale Price	$43,500.62
Trade-In Value	$0.00
Less Payoff	0.00
Net Trade Allowance	$0.00
Cash Down Payment⁽²⁾	0.00
Factory Rebate Incentive	0.00
Total Down Payment	$0.00
Total Loan Amount	$43,500.62
Interest Rate (APR)⁽³⁾	14.17%
Term / Months⁽³⁾	72
Auto Loan Payment	$791.27

(1) Calculations are based on the target price of $40,000.00. Actual price set by dealer.

(2) Down payment is based the greater of customer input or the amount needed not to exceed the Loan to Value of 125%.

(3) Interest rate of 14.17% and term are based on the national average for a Credit Score Range from 661-780. Actual interest rate and term set by lender.

Item	Amount
Target Deal Price⁽¹⁾	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Cash Sale Price	$43,500.62
Trade-In Value	$0.00
Less Payoff	0.00
Net Trade Allowance	$0.00
Cash Down Payment⁽²⁾	0.00
Factory Rebate Incentive	0.00
Total Down Payment	$0.00
Total Loan Amount	$43,500.62
Interest Rate (APR)⁽³⁾	14.17%
Term / Months⁽³⁾	72
Auto Loan Payment	$885.45

(1) Calculations are based on the target price of $40,000.00. Actual price set by dealer.

(2) Down payment is based the greater of customer input or the amount needed not to exceed the Loan to Value of 120%.

(3) Interest rate of 14.17% and term are based on the national average for a Credit Score Range from 601-660. Actual interest rate and term set by lender.

Item	Amount
Target Deal Price⁽¹⁾	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Cash Sale Price	$43,500.62
Trade-In Value	$0.00
Less Payoff	0.00
Net Trade Allowance	$0.00
Cash Down Payment⁽²⁾	0.00
Factory Rebate Incentive	0.00
Total Down Payment	$0.00
Total Loan Amount	$43,500.62
Interest Rate (APR)⁽³⁾	14.17%
Term / Months⁽³⁾	72
Auto Loan Payment	$1001.77

(1) Calculations are based on the target price of $40,000.00. Actual price set by dealer.

(2) Down payment is based the greater of customer input or the amount needed not to exceed the Loan to Value of 115%.

(3) Interest rate of 14.17% and term are based on the national average for a Credit Score Range from 501-600. Actual interest rate and term set by lender.

Item	Amount
Target Deal Price⁽¹⁾	$40,000.00
Avg. Dealer Doc Fee	312.00
National Sales Tax (7.25%)	2,922.62
Avg. DMV Fee	266.00
Cash Sale Price	$43,500.62
Trade-In Value	$0.00
Less Payoff	0.00
Net Trade Allowance	$0.00
Cash Down Payment⁽²⁾	0.00
Factory Rebate Incentive	0.00
Total Down Payment	$0.00
Total Loan Amount	$43,500.62
Interest Rate (APR)⁽³⁾	14.17%
Term / Months⁽³⁾	72
Auto Loan Payment	$1121.08

(1) Calculations are based on the target price of $40,000.00. Actual price set by dealer.

(2) Down payment is based the greater of customer input or the amount needed not to exceed the Loan to Value of 110%.

(3) Interest rate of 14.17% and term are based on the national average for a Credit Score Range from 300-500. Actual interest rate and term set by lender.