Auto Loan Calculator
Estimate the monthly payment and total interest on a car loan. Start from the vehicle price, subtract your down payment and any trade-in credit, then add the interest rate and term to see what you’ll actually pay each month.
How this calculator works
First we work out the amount you’re actually financing:
financed = price − down payment − trade-in
That amount is then run through the standard amortized-loan formula, where r is the monthly rate (annual rate ÷ 12) and n is the number of monthly payments:
M = financed · r · (1 + r)ⁿ / ((1 + r)ⁿ − 1)
What this estimate leaves out
Sales tax, title, registration, and dealer fees are often rolled into the loan in practice but are not included here. Gap insurance and extended warranties, if you buy them, add to the financed amount too. Treat this as the financing math, not an out-the-door price.
Learn more
- Leasing vs Buying a Car: Which Actually Costs Less? — Lower monthly payments vs building ownership — how leasing and buying really compare, the hidden costs of each, and who each option suits.
- Car Insurance Explained: What Coverage Do You Actually Need? — Liability, collision, comprehensive, uninsured-motorist — what each car-insurance coverage does, why state minimums are rarely enough, and how to choose limits and deductibles.
- How to Build Credit (and Understand Your Score) — What actually moves your credit score, how to build it from scratch or repair it, and why a better score quietly saves you thousands on every loan.
- When Does Refinancing Actually Make Sense? — Refinancing isn't free — it's a bet on the break-even point. How to know if a refi pays off, the rate-drop rule of thumb, and the trap of resetting your loan term.
Frequently asked questions
- Should I put more money down?
- A larger down payment lowers the amount financed, which reduces both your monthly payment and the total interest you pay. Adjust the down payment field to see the effect for your numbers.
- Why are longer auto loans more expensive overall?
- A 72-month loan lowers the monthly payment but stretches interest over more time, so you pay more in total — and risk owing more than the car is worth. Compare a shorter term here to see the difference.
- Does a trade-in reduce my loan?
- Yes. Net trade-in credit is subtracted from the price along with your down payment, lowering the amount you finance. Enter your expected trade-in value to include it.