Tips to help decide which auto loan might be the better deal

Purchasing a car? Here's a car loan calculator to help you compare and decide which loan may be best for you.

This loan comparison calculator can help you determine which vehicle loan might be your best option. If you use the same interest rate when comparing both loans but use a shorter duration for one loan, the loan with the shorter duration will display higher payments. However, when you pay the loan off sooner you will save interest costs.

The length of an auto loan is a personal decision, and there are a handful of auto buying considerations to keep in mind.

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Loan 1

Loan 2



Monthly payment

Loan 1: $0
Loan 2: $0

Total payment

Loan 1: $0
Loan 2: $0

Total interest

Loan 1: $0
Loan 2: $0
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The information in this article was obtained from various sources not associated with State Farm® (including State Farm Mutual Automobile Insurance Company and its subsidiaries and affiliates). While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. State Farm is not responsible for, and does not endorse or approve, either implicitly or explicitly, the content of any third party sites that might be hyperlinked from this page. The information is not intended to replace manuals, instructions or information provided by a manufacturer or the advice of a qualified professional, or to affect coverage under any applicable insurance policy. These suggestions are not a complete list of every loss control measure. State Farm makes no guarantees of results from use of this information.

Neither State Farm® nor its agents provide tax or legal advice. This calculator is for illustrative and educational purposes only. Its accuracy and applicability to your circumstances is not guaranteed. Please consult your own adviser regarding your particular circumstances.

State Farm Mutual Automobile Insurance Company
­State Farm Indemnity Company
­Bloomington, IL

State Farm County Mutual Insurance Company of Texas­
Richardson, TX

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