Car Loan Calculator
Estimate your monthly auto loan payment and see how much interest you'll pay over the life of the loan by entering the vehicle price, down payment, interest rate, and loan term.
About this calculator
Calculate your monthly car loan payment, total interest, and total cost based on loan amount, interest rate, and loan term.
Frequently Asked Questions
How is the monthly car loan payment calculated?
The payment is calculated using an amortization formula based on the loan principal (vehicle price minus down payment and trade-in), the monthly interest rate, and the number of months in the loan term.
Does a larger down payment lower my monthly payment?
Yes, increasing your down payment reduces the loan principal, which lowers both your monthly payment and the total interest paid over the loan term.
Should I include sales tax and fees in the vehicle price?
For a more accurate estimate, include taxes, title, and registration fees in the vehicle price since many lenders finance these costs as part of the loan.