Auto Loan Calculator
Calculate your car loan payments, compare financing options, and see how different terms affect your monthly payment and total cost.
Free online tool to calculate auto loan payments, total interest, and amortization schedule for new cars, used vehicles, and refinancing options.
New Car
Finance your new vehicle purchase
Used Car
Calculate payments for used vehicles
Refinance
Lower your existing car loan rate
Auto Loan Details
Visual Analysis
Payment Breakdown
Total: $28,652
Balance Over Time
Amortization Schedule
| Period | Date | Payment | Principal | Interest | Extra Payment | Total Payment | Balance |
|---|---|---|---|---|---|---|---|
| 1 | Jun 1, 2026 | $478 | $363 | $115 | - | $478 | $24,637 |
| 2 | Jul 1, 2026 | $478 | $365 | $113 | - | $478 | $24,272 |
| 3 | Aug 1, 2026 | $478 | $366 | $111 | - | $478 | $23,906 |
| 4 | Sep 1, 2026 | $478 | $368 | $110 | - | $478 | $23,538 |
| 5 | Oct 1, 2026 | $478 | $370 | $108 | - | $478 | $23,169 |
| 6 | Nov 1, 2026 | $478 | $371 | $106 | - | $478 | $22,797 |
| 7 | Dec 1, 2026 | $478 | $373 | $104 | - | $478 | $22,424 |
| 8 | Jan 1, 2027 | $478 | $375 | $103 | - | $478 | $22,049 |
| 9 | Feb 1, 2027 | $478 | $376 | $101 | - | $478 | $21,673 |
| 10 | Mar 1, 2027 | $478 | $378 | $99 | - | $478 | $21,295 |
| 11 | Apr 1, 2027 | $478 | $380 | $98 | - | $478 | $20,915 |
| 12 | May 1, 2027 | $478 | $382 | $96 | - | $478 | $20,533 |
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Quick Summary
Export Features
Auto Loan Tips & Insights
Down Payment
A larger down payment reduces your loan amount and can help you get a better interest rate.
Loan Term
Shorter terms mean higher monthly payments but less total interest paid over the life of the loan.
Credit Score
Your credit score significantly affects your interest rate. Better credit = lower rates.
New vs Used
New cars often have lower interest rates but higher depreciation. Used cars may have higher rates but lower overall cost.
Extra Payments
Making extra payments can help you pay off your car loan faster and save on interest.
Refinancing
If interest rates drop or your credit improves, consider refinancing to lower your monthly payment.
About Auto Loan Calculator
What is an Auto Loan Calculator?
An auto loan calculator is a financial tool designed to help you estimate monthly car payments, total interest costs, and the complete amortization schedule for vehicle financing. This calculator takes into account the vehicle price, down payment, loan term, interest rate, and other factors to provide accurate payment estimates.
Our comprehensive auto loan calculator helps you make informed decisions when purchasing a new car, financing a used vehicle, or refinancing an existing auto loan. Whether you're buying from a dealership or a private seller, this tool provides the financial clarity you need.
How to Use Our Auto Loan Calculator
- Enter the vehicle price: The total cost of the car you want to purchase
- Set your down payment: The amount you'll pay upfront (typically 10-20% of vehicle price)
- Choose loan term: How long you want to take to repay the loan (typically 3-7 years)
- Enter interest rate: The annual percentage rate (APR) offered by your lender
- Set payment day: Choose which day of the month you want to make payments
- Click Calculate: View your monthly payment, total interest, and complete payment schedule
Auto Loan Calculator Formula
Monthly Payment = (P - D) × (r(1+r)ⁿ) / ((1+r)ⁿ - 1)
Where:
- P = Vehicle price
- D = Down payment
- r = Monthly interest rate (annual rate ÷ 12)
- n = Total number of payments (loan term × 12)
Types of Auto Loans
New Car Loans
Financing for brand new vehicles, often with lower interest rates and longer terms available.
Used Car Loans
Financing for pre-owned vehicles, typically with higher interest rates and shorter terms.
Refinance Loans
Replacing an existing auto loan with a new one, often to get better terms or lower rates.
Lease Buyout Loans
Financing to purchase a vehicle at the end of a lease term.
Auto Loan vs Car Lease Calculator
While our auto loan calculator focuses on vehicle financing, it's important to understand the difference between buying and leasing. Auto loans allow you to own the vehicle after paying off the loan, while leases provide temporary use of a vehicle for a monthly payment.
Tip: Use our calculator to compare the total cost of ownership between different financing options and determine which is best for your financial situation.
Car Loan Interest Rate Calculator
Interest rates on auto loans vary based on several factors including your credit score, loan term, vehicle age, and down payment amount. Our calculator helps you understand how different interest rates affect your monthly payment and total loan cost.
Excellent Credit (720+)
3.5% - 5.5% APR
Good Credit (690-719)
5.5% - 8.5% APR
Fair Credit (630-689)
8.5% - 12.5% APR
Vehicle Financing Calculator Features
- Monthly payment calculation: See exactly how much you'll pay each month
- Total interest calculation: Understand the full cost of borrowing
- Amortization schedule: View how each payment is split between principal and interest
- Down payment impact: See how different down payments affect your loan
- Loan term comparison: Compare different loan lengths and their impact on payments
- Interest rate sensitivity: Understand how rate changes affect your payment
Auto Loan Payment Calculator for Different Scenarios
New Car Financing
Calculate payments for brand new vehicles with manufacturer incentives and dealer financing options.
Used Car Loan Calculator
Determine payments for pre-owned vehicles, including certified pre-owned (CPO) cars.
Car Refinance Calculator
Calculate potential savings when refinancing an existing auto loan at a lower rate.
Private Party Auto Loan
Calculate payments when buying a car from a private seller rather than a dealership.
Car Loan Amortization Calculator Benefits
Our auto loan amortization calculator provides detailed insights into your loan structure, showing how each payment reduces your principal balance and how much interest you pay over time. This information helps you make informed decisions about:
- Choosing the right loan term for your budget
- Understanding the true cost of your vehicle purchase
- Planning for early loan payoff strategies
- Comparing different financing offers
- Budgeting for your monthly car payment
Auto Financing Calculator Tips
Before Using the Calculator
- Check your credit score to estimate your interest rate
- Research current auto loan rates from multiple lenders
- Determine how much you can afford for a down payment
- Consider additional costs like taxes, fees, and insurance
- Factor in ongoing maintenance and fuel costs