Auto Loan Calculator
Estimate the monthly payment on a car loan and how much interest it adds up to. Enter the price, what you put down, the rate and the number of months.
- Free
- Works offline after your first visit
- Saves on this device
- No sign-up
- Updated
How it works
The amount financed is the price minus the down payment. The monthly payment uses the standard loan formula, with the yearly rate divided by 12 and the months as the number of payments.
The total paid is the payment times the months, and interest is that total minus the amount financed. Sales tax, registration and fees are not included, so the real cost can be higher.
Worked example
A car at $32,000.00 with $4,000.00 down, financed at 6.9% for 60 months, has a payment of $553.11 a month. You pay $33,186.81 in all, and $5,186.81 of it is interest.
Questions
Does the down payment matter?
Yes. A larger down payment means a smaller loan, which lowers both the monthly payment and the interest.
Are sales tax and fees included?
No. Add them to the price first if you want the full cost of the car.
Why choose fewer months?
Shorter loans have higher monthly payments but less interest in total. Change the months and watch the difference.
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