Auto calculator
Free auto loan calculator. Enter the financed amount, APR, and term (typically 36–72 months) to see the monthly car payment, total interest paid, and a full amortization schedule.
Amortization schedule
| Period | Interest | Principal | Balance |
|---|---|---|---|
| $2,075.77 | $5,137.89 | $24,862.11 | |
| Month 1 | $187.50 | $413.64 | $29,586.36 |
| Month 2 | $184.91 | $416.22 | $29,170.14 |
| Month 3 | $182.31 | $418.83 | $28,751.31 |
| Month 4 | $179.70 | $421.44 | $28,329.87 |
| Month 5 | $177.06 | $424.08 | $27,905.79 |
| Month 6 | $174.41 | $426.73 | $27,479.07 |
| Month 7 | $171.74 | $429.39 | $27,049.67 |
| Month 8 | $169.06 | $432.08 | $26,617.59 |
| Month 9 | $166.36 | $434.78 | $26,182.82 |
| Month 10 | $163.64 | $437.50 | $25,745.32 |
| Month 11 | $160.91 | $440.23 | $25,305.09 |
| Month 12 | $158.16 | $442.98 | $24,862.11 |
| $1,676.90 | $5,536.76 | $19,325.35 | |
| $1,247.07 | $5,966.59 | $13,358.75 | |
| $783.87 | $6,429.80 | $6,928.96 | |
| $284.70 | $6,928.96 | $0.00 |
How to use auto calculator
- 01Use price minus down payment and trade-in
Enter only the amount you're financing. Subtract down payment and trade-in value from the vehicle price first.
- 02Pick a realistic rate
New-car rates vary by credit; used-car rates run higher. Use the rate your dealer or credit union quoted.
- 03Choose your term
60 months is a common default. Longer terms lower the payment but cost more interest and can leave you underwater.
- 04Try extra payments
Adding $50–$100 per month can shave several months off an auto loan and save hundreds in interest.
Examples
Formula
Monthly payment = P × r / (1 − (1 + r)⁻ⁿ), where P is principal, r is the monthly interest rate (APR / 12), and n is the number of months. Extra payments are applied to principal each month until the balance reaches zero.
M = P · r / (1 − (1 + r)^−n)Frequently asked questions
How long should an auto loan be?
36–60 months is typical. Stretching to 72 or 84 months lowers the monthly payment but increases the risk that you'll owe more than the car is worth. Run both terms and compare total interest.
What's a good interest rate on a car loan?
It depends heavily on credit score, new vs used, and lender type. Credit unions often beat dealer financing by 1–2 percentage points — run both rates through the calculator to see the dollar impact.
Does this include sales tax or registration?
No. Enter only the financed amount. If you're rolling tax and fees into the loan, include them in the principal; if you're paying them up front, leave them out.
Should I put more money down?
Larger down payments reduce the loan amount, cut total interest, and lower the risk of going underwater. Try halving your principal to see the savings.
Last updated . Built by Tooligan.