🚗 Auto Financing · Instant Amortization · Free Forever

Calculate your car loan.

Enter your loan amount, interest rate, and term — get your exact monthly payment, total interest paid, and a full amortization schedule instantly. No signup. No data stored.

Instant monthly payment Full amortization table No signup required Trade-in & down payment

How is a car loan payment calculated?

Your monthly payment is determined by the loan amount (vehicle price minus down payment and trade-in), the annual interest rate (APR), and the loan term. Longer terms mean lower payments but significantly more interest paid overall. This calculator uses the standard amortization formula used by all banks and dealerships.

✦ Unlock Car Loan Pro
Car Loan Pro (Extra payments, Loan compare, Refinance & Affordability) Mortgage Pro Toolkit (Extra payments, Refi, Affordability) Capital Gain Pro (All 50 states, Multi-stock netting) Paycheck Pro (Job compare, Bonus & OT, 401k optimizer, Raise)
Vehicle & Purchase Details
$
Sticker price or agreed purchase price Please enter a valid vehicle price
$
Cash paid upfront at signing Down payment cannot exceed vehicle price
$
Estimated value of your current vehicle Please enter a valid trade-in value
$
Remaining balance on current loan (if any) Please enter a valid amount
%
State/local tax rate on vehicle purchase Please enter a valid tax rate (0–20%)
$
Registration, documentation, dealer fees Please enter a valid fee amount
Loan Terms
0% 7.50% 25%
Use the slider or type your exact APR Please enter a valid interest rate (0–25%)
Longer terms = lower payment, more total interest
Your Results
Monthly Payment
—
Principal + Interest only
Loan Amount — APR — Term —
Total of Payments
—
All payments combined
Total Interest Paid
—
Over the full loan term
Amount Financed
—
After down payment & trade-in
Total Vehicle Cost
—
Price + Tax + Fees + Interest
—
interest
Principal repaid —
Interest paid to lender —
Down payment + trade-in —

In Plain English

Your result will appear here.

Full Calculation Breakdown

Vehicle price—
Sales tax—
Fees & other costs—
Down payment—
Trade-in value—
Amount owed on trade-in—
Amount financed (loan)—
Annual interest rate (APR)—
Monthly interest rate—
Number of monthly payments—
Monthly payment (P+I)—
Total of all payments—
Total interest paid—
💡 Smart Car Buying Tips

Amortization Schedule

# Payment Principal Interest Balance

Disclaimer: This calculator provides estimates for informational purposes only and assumes a standard fixed-rate amortizing loan. Actual loan terms, APR, and fees may vary by lender. Always review your loan agreement carefully before signing.

Standard amortization formula · P&I only · Does not include insurance or maintenance
Standard amortization formula
No data stored — 100% private
Instant calculation — no login
Full amortization table included

Frequently Asked Questions

Auto loans, explained simply.

The standard formula is: M = P × [r(1+r)^n] / [(1+r)^n−1], where P = loan amount, r = monthly interest rate (APR ÷ 12), and n = number of months. This calculator applies this formula exactly — the same math your lender uses.
For excellent credit (720+), new car rates typically range from 5–7.5%. Used car rates run 1–3% higher. Credit unions often offer the best rates — check yours before visiting a dealer. Subprime borrowers (below 580) may see rates of 15–20%+.
Longer terms reduce your monthly payment but cost significantly more in total interest — and you risk being "upside down" (owing more than the car is worth) for years. As a rule, aim for the shortest term your budget allows. Most financial advisors recommend 48–60 months maximum.
Your trade-in value is applied to reduce the amount you need to finance. If you still owe money on your trade-in, that balance gets "rolled in" to your new loan — which increases your loan amount and total interest paid. Negative equity (owing more than the car is worth) should be paid off before trading in if possible.
Common fees include documentation fees ($100–$900), title and registration ($50–$300), and dealer prep fees. These are often rolled into the loan. Don't forget sales tax — it varies widely by state (0% in Montana, Oregon, Delaware to 8–10%+ in others). Always ask for an itemized out-the-door price before signing.