The Auto Loan Calculator estimates your monthly car payment, total interest cost, and the full price you'll pay for a vehicle loan. Compare different loan terms, interest rates, and down payments to find the most affordable option before visiting the dealership.
How the Formula Works
Monthly Payment = [P × r × (1+r)^n] ÷ [(1+r)^n − 1], where P = loan amount (price − down payment − trade-in), r = monthly rate, n = months.
How to Use This Calculator
Enter the vehicle price
Enter your down payment and/or trade-in value
Enter the interest rate and loan term
View monthly payment, total interest, and total cost
Tips & Best Practices
Get pre-approved by your bank or credit union before visiting the dealer — you'll have more negotiating power
A shorter loan term means higher payments but saves thousands in interest
Keep your total car expenses (payment + insurance + fuel + maintenance) under 15–20% of take-home pay
Avoid 72- or 84-month loans — you'll likely be 'underwater' (owing more than the car is worth) for years
Important Limitations
Does not include insurance, registration, or maintenance costs
Actual rate depends on your credit score, loan amount, and lender
Does not factor in sales tax on the vehicle purchase