Auto Loan Calculator
Estimate your monthly car payment, total interest, and total cost of the loan.
How to use
- Enter the car price and your down payment.
- Enter the APR and loan term.
- Click Calculate to see your monthly payment, total interest, and total cost.
Estimates only — not financial advice. Taxes, fees, and insurance are not included. Verify important decisions with a qualified professional.
What Is an Auto Loan Calculator?
An auto loan calculator estimates your monthly car payment, the total interest you will pay, and the full cost of financing a vehicle. Dealers tend to negotiate around the monthly payment — "what payment are you looking for?" — because stretching the term can make an expensive car look affordable while quietly adding thousands in interest. This calculator flips the focus back to the numbers that matter: the amount financed, the rate, and what the loan costs in total before you sign anything.
The amount you finance is the car's price minus your down payment (and any trade-in credit, which you can treat as part of the down payment here). Interest then accrues on that balance over the term. Longer terms lower the monthly payment but increase total interest, and they raise the risk of owing more than the car is worth as it depreciates — a situation lenders call being upside down or underwater on the loan.
How to Use the Auto Loan Calculator
- Enter the car's price — ideally the out-the-door price including taxes and dealer fees, not just the sticker.
- Enter your down payment, including any trade-in value you plan to apply.
- Enter the APR from your loan pre-approval or the dealer's offer, and the loan term in years.
- Click Calculate to see the monthly payment, total interest, and total cost, then compare different terms side by side.
Who Uses an Auto Loan Calculator?
First-time buyers use it to set a realistic budget before visiting a dealership. Anyone with a bank or credit-union pre-approval uses it to check whether the dealer's financing offer is actually competitive. Sellers and traders use it to see how a trade-in changes the picture, and financially careful buyers use it to choose between a shorter, cheaper loan and a longer, more comfortable one — with eyes open about the trade-off.
Tips for Financing a Car
- Get pre-approved by your own bank or credit union first; it gives you a rate the dealer has to beat.
- A down payment of around 20% on a new car (10% on used) helps you avoid going upside down as the car depreciates.
- Be cautious with 72- and 84-month terms — the payment looks gentle, but total interest and negative-equity risk climb steeply.
How much should my down payment on a car be?
A common guideline is 20% of the purchase price for a new car and 10% for a used one. A larger down payment reduces the amount financed, lowers the monthly payment and total interest, and protects you against owing more than the car is worth early in the loan.
Does this calculator include sales tax and fees?
Only if you include them in the price you enter. Tax, title, registration, and dealer fees can add a significant amount, and many buyers roll them into the loan. Ask the dealer for the out-the-door price and enter that figure for the most accurate estimate.
Is a longer loan term a good idea if the payment fits my budget?
It can be a reasonable choice for cash-flow reasons, but understand the cost: you pay interest for more years, build equity more slowly, and risk owing more than the car's value. Compare the total interest figures for a 48-, 60-, and 72-month term before deciding.
What APR should I expect on an auto loan?
Rates depend heavily on your credit score, the loan term, and whether the car is new or used. Borrowers with strong credit qualify for promotional rates on new cars, while used-car and lower-credit loans cost more. Enter the actual rate from a pre-approval rather than guessing, since a point or two changes the totals noticeably.