Auto Loan Calculator
Use this auto loan calculator to estimate your monthly car payment based on the vehicle price, down payment, interest rate, and loan term. See how much total interest you'll pay over the life of the loan.
How it works
The calculator finds your loan amount by subtracting your down payment and trade-in from the vehicle price. It then applies the standard amortized loan formula to find a fixed monthly payment.
The formula is: Payment = P × r / (1 − (1 + r)^−n), where P is the loan amount, r is the monthly interest rate (annual APR ÷ 12), and n is the number of months. Total interest is the sum of all payments minus the original loan amount.
Tips
A larger down payment lowers both your monthly payment and the total interest you pay. Even an extra $1,000 down can save you money over a 60-month term.
Shorter loan terms mean higher monthly payments but far less interest overall. Compare a 48-month versus 72-month term to see the trade-off before signing.
FAQ
Does this calculator include sales tax and fees?
No. The default calculation uses the vehicle price only. If you want to include tax, title, and registration fees, add those amounts to the vehicle price field.
What APR should I use?
Use the rate your lender quotes. Rates vary by credit score, loan term, and whether the car is new or used. If unsure, try a range to see how it affects your payment.
Should I choose a longer loan term?
Longer terms lower your monthly payment but increase total interest and the risk of owing more than the car is worth. A shorter term costs more monthly but less overall.