Auto loan calculator
Calculate a monthly car payment and total interest before comparing vehicles, loan terms, down payments, or trade-in values.
Monthly Auto Payment
$0What it does
The calculator estimates the amount financed and monthly payment for a car loan. It includes purchase price, down payment, trade-in, sales tax, fees, interest rate, and term.
The result also shows total interest and total paid so you can compare more than just the monthly payment.
How to use it
Enter the vehicle price first, then add down payment, trade-in value, sales tax, and fees. Add the interest rate and term from the loan offer.
Compare a shorter term with a longer term. Longer terms can lower the monthly payment, but they often increase total interest and may create more negative equity risk.
Common mistake
The loan payment is only one part of car cost. Insurance, maintenance, repairs, fuel, parking, tolls, and registration can change affordability.
How it works
An auto loan payment is based on the amount financed, interest rate, and loan term. The amount financed starts with the vehicle price, then adds taxes and fees, and subtracts down payment or trade-in value.
A longer term can reduce the monthly payment, but it gives interest more months to accumulate. A shorter term usually costs more each month but can reduce total interest and help build equity faster.
What affects it
Credit profile, lender, vehicle age, loan term, down payment, and market rates can all affect the interest rate. New cars, used cars, and refinance loans may be priced differently.
The amount financed matters too. Taxes, fees, warranties, and add-ons can raise the balance even when the sticker price looks affordable. A larger down payment or trade-in can lower the balance and reduce interest.
FAQ
Does this include insurance? No. Insurance is part of ownership cost, but it is not included in the loan payment.
What term should I compare? Try 48, 60, and 72 months to see the payment and interest tradeoff.
Should I include dealer add-ons? Yes, if they are financed. Add them to fees or vehicle price so the payment estimate is closer.