Auto loan calculator
Enter the car price, down payment and term to see the monthly payment and what the car really costs you.
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Processing and privacy: The result is calculated inside your browser and your data is not sent to any server.
How to use it
- Enter car price, down payment, trade-in value, annual interest rate, repayment term and rate method.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Loan = price − down payment − trade-in. Declining rate: payment = P × r ÷ (1 − (1 + r)^−n). Flat rate: interest = P × rate × n ÷ 12, payment = (P + interest) ÷ n.
Example
Inputs: Car price = 100,000, Down payment = 20,000, Trade-in value = 0, Annual interest rate = 5 %, Repayment term = 60 months. Result: Monthly payment: 1,509.70; Amount financed: 80,000.00; Total interest: 10,581.92.
Limits and caveats
- Leaves out insurance, registration and admin fees, which vary by lender.
- If your contract has a large final payment, use the balloon loan calculator.
Questions about this tool
What is the difference between flat and declining rates?
A flat rate is charged on the original amount for the whole term, a declining rate only on what is still owed, so the same number costs more as a flat rate.
Does a bigger down payment cut the interest?
Yes, it lowers the amount financed that interest is charged on.
What does total cost of the car mean?
The down payment, trade-in and every payment added together: what you pay for the car by the end of the loan.