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Auto Loan Calculator

Work out your car loan’s monthly payment and total interest by amount, rate and term.

Runs in your browser — files never leave your device

Monthly payment
$500.95
Total interest
$5,056.92
Total paid
$30,056.92

How it works

This calculator works out the fixed monthly payment on an amortizing auto loan. Enter the amount you are financing — the negotiated vehicle price minus your down payment and trade-in — along with the annual interest rate and the term in years. It returns the monthly payment plus the total interest and the total amount you will hand over across the whole term.

The math is the standard amortization formula: payment = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1), where P is the amount financed, r is the monthly rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly payments (years × 12). The payment is rounded to the cent; the totals are computed from the exact payment and then rounded. A 0% promotional loan is handled as simply principal ÷ months.

A fully worked example: finance $25,000 at 7.5% for 5 years. The monthly rate is 0.075 ÷ 12 = 0.00625 and n = 60, so (1.00625)⁶⁰ ≈ 1.4533. The payment is 25,000 × 0.00625 × 1.4533 ÷ (1.4533 − 1) ≈ $500.95 per month. Over 60 payments that totals $30,056.92, of which $5,056.92 is interest. Put an extra $4,000 down so you finance $21,000 instead, and the payment falls to $420.80 while total interest drops to $4,247.82 — a saving of $809.10 on top of the smaller balance.

Two things to keep in mind when reading the results. First, the tool models principal and interest only: sales tax, title and registration, dealer documentation fees, extended warranties, and insurance are all extra — and if you roll any of them into the loan, add them to the amount you enter. Second, enter your lender’s quoted rate for an exact schedule, or the APR for a slightly higher estimate that includes mandatory fees; the APR is the better number for comparing offers. Be wary of shopping by monthly payment alone — a longer term almost always means paying more for the car overall.

Frequently asked questions

Should I enter the car’s price or the amount financed?
Enter the amount financed: the negotiated price minus your down payment and any trade-in equity, plus anything you roll into the loan such as taxes, fees, or add-ons. The loan only charges interest on what you actually borrow, so using the sticker price would overstate the payment.
Does this include sales tax, registration, and dealer fees?
No — the result covers principal and interest only. Sales tax, title, registration, documentation fees, and insurance come on top. If the dealer rolls those charges into the loan, add them to the amount you enter so the payment reflects the real balance.
Should I use the interest rate or the APR?
The nominal rate reproduces the lender’s payment schedule most exactly, but your lender’s APR also folds in mandatory financing fees, so it gives a slightly more conservative estimate. When comparing offers from a bank, a credit union, and the dealer, the APR is the fairer basis.
How does the loan term change what I pay?
Stretching the term lowers the payment but raises total interest. Financing $25,000 at 7.5% costs $500.95 a month over 5 years with $5,056.92 in interest; the same loan over 7 years drops the payment to $383.46 but interest climbs to $7,210.38 — $2,153.46 more. Going the other way, a 4-year term costs $604.47 a month and saves $1,042.24 in interest.
What about 0% promotional financing?
At 0% the formula reduces to principal ÷ months, so the payment is a straight split and total interest is $0. Note that dealers sometimes offer 0% financing instead of a cash rebate — run the numbers both ways, because a rebate that shrinks the principal can beat the free financing.
What does it mean to be “upside down” on a car loan?
It means owing more than the car is worth, which is common early in long loans because cars depreciate faster than a 6- or 7-year schedule pays down principal. A larger down payment or a shorter term keeps the balance below the car’s value sooner.
Is my data uploaded?
No — the calculation runs entirely in your browser and nothing you enter leaves your device.

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