Auto Loan Calculator
Estimate your monthly car payment in seconds. Adjust purchase price, interest rate, loan term, down payment, trade-in value, and sales tax to see how each change affects your budget.
Monthly payment
$608.51
- Amount financed
- $31,400.00
- Total paid
- $36,510.67
- Total interest
- $5,110.67
Payments assume a fixed-rate auto loan with monthly compounding. Additional taxes, fees, and insurance outside the loan are not included.
Email my calculations
Receive a printable breakdown (PDF) to revisit your calculations later.
Loan payoff over time
See how your balance shrinks while interest adds up each month.
Planning a purchase budget? Explore our Loan Affordability Calculator or see how much car fits your budget in How Much Car Can I Afford?.
How to use the Auto Loan Calculator
Project monthly payments by combining purchase price, down payment, trade-in equity, and sales tax so you know the true cost of financing a vehicle.
- Enter the vehicle price or build sheet subtotal before incentives.
- Add sales tax, fees, and any negative equity being rolled in to capture the financed balance.
- Experiment with loan terms and interest rates that match your credit profile.
- Review the payment, total interest, and payoff schedule to choose an offer that fits your budget.
Auto Loan Calculator key terms
Knowing how each field influences the results keeps the math grounded in reality.
APR
Annual percentage rate combines the note rate and lender fees. Even small APR changes noticeably impact the payment on longer loans.
Loan term
Number of months until payoff. Extending the term lowers the payment but can leave you underwater longer.
Equity position
The difference between your car’s value and the remaining balance. Strong equity makes trade-ins or refinancing easier.
Auto Loan Calculator planning ideas
Try running a few “what if” scenarios to translate the numbers into real-world decisions.
Compare dealer versus credit union offers
Run the calculator with each lender’s rate and fee structure to see which produces the lowest total interest.
Accelerated payoff planning
Add an extra monthly principal payment to see how quickly the loan could be retired and how much interest you save.
Future trade-in checkup
Estimate the balance after 24 or 36 months to verify the loan aligns with your planned ownership timeline.
Sample auto loan strategy comparison
| Scenario | Payment | Total interest | Notes |
|---|---|---|---|
| 48-month loan at 6.5% | $708 | $2,037 | Higher payment, fastest equity build. |
| 60-month loan at 7% | $593 | $3,560 | Balances affordability and payoff speed. |
| 72-month loan at 7.2% | $515 | $5,114 | Lowest payment but slower equity growth. |
Frequently asked questions
Should I focus on payment or total price?
Both matter. A low payment can hide an inflated selling price or extended term. Use the calculator to ensure the out-the-door price and total interest align with your goals.
When is refinancing worthwhile?
If rates drop or your credit improves, re-run the numbers with the remaining balance and new APR. Refinancing typically makes sense when you can cut 1–2 percentage points without extending the term too far.