Auto Loan Calculator
Estimate your monthly car payment, total interest, and amount financed in seconds.
Choose the currency used for your vehicle price and loan amounts.
Enter the purchase price of the vehicle.
Leave blank if you are not making a down payment.
Leave blank if you do not have a trade-in.
Optional. Sales tax rules vary by location. Enter the rate applicable to your vehicle purchase.
Enter estimated financed registration, documentation, title, or other fees.
Enter 0 for a 0% APR loan.
Year-by-Year Loan Breakdown
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|
Results are estimates for planning purposes. Actual loan payments, taxes, fees, APR, trade-in treatment, rounding, and lender terms may vary.
How Does This Auto Loan Calculator Work?
Enter the vehicle price, down payment, trade-in value, estimated sales tax, fees, APR, and loan term. The calculator estimates your monthly payment, amount financed, total interest, and year-by-year balance.
Auto Loan Payment Formula
M is the monthly payment, P is the amount financed, r is the monthly interest rate, and n is the total number of monthly payments. For a 0% APR loan, the amount financed is divided by the number of months.
Frequently Asked Questions About Auto Loans
How is a monthly car payment calculated?
A fixed-rate payment is based on the amount financed, monthly interest rate, and number of payments using the standard amortization formula.
Does a larger down payment reduce my car payment?
Yes. A larger down payment reduces the amount financed, which can lower both your monthly payment and total interest.
Does this calculator include sales tax and fees?
Yes. You can enter an estimated sales tax rate and financed fees. Tax, trade-in, registration, and fee rules vary by location and lender.