Auto Loan Calculator

Summary

Enter vehicle price, down payment, interest rate, and loan term to instantly see your monthly payment, total interest, and total cost.

How it works

1. Enter the vehicle price and your down payment — the loan principal is the price minus the down payment.
2. Enter the annual interest rate (APR) and the loan term in months (36, 60, 72, or 84).
3. The calculator applies the amortization formula M = P × [r(1+r)^n] / [(1+r)^n − 1], where r is the monthly rate (APR ÷ 12) and n is the number of payments.
4. Read your monthly car payment, total interest (M × n − P), and the total cost of the loan.

Use cases

• Compare monthly payments across different loan terms (36 vs 48 vs 60 vs 84 months).
• See how a larger down payment reduces your monthly payment and total interest.
• Estimate the true cost of a vehicle including financing charges.
• Quickly evaluate dealer financing offers against bank or credit union rates.

Frequently Asked Questions