Car Loan Calculator
Estimate a car loan monthly payment, amount financed, total payments and total interest. Compare 36-, 48-, 60-, 72- and 84-month terms.
Compare car loan terms
Keep the same amount financed and rate to see how the repayment period changes the monthly payment and total interest.
| Term | Monthly payment | Total interest | Total paid |
|---|---|---|---|
| 36 months | $771.93 | $2789.39 | $27789.39 |
| 48 months | $598.66 | $3735.49 | $28735.49 |
| 60 months (selected) | $495.03 | $4701.80 | $29701.80 |
| 72 months | $426.23 | $5688.21 | $30688.21 |
| 84 months | $377.32 | $6694.63 | $31694.63 |
A longer term usually lowers the required monthly payment but increases the time spent paying interest. The comparison is illustrative and excludes fees not entered above.
About the Car Loan Calculator
Estimate a fixed-rate auto loan before visiting a dealership. Enter the vehicle price, down payment, trade-in credit, financed taxes or fees, annual rate and term. Results include the amount financed, monthly payment, total paid and estimated interest.
How to use this calculator
- Enter the negotiated vehicle price.
- Subtract your down payment and trade-in credit; add taxes and fees only if you will finance them.
- Enter an estimated APR and choose a repayment term.
- Compare monthly payment with total interest and total paid.
- Use the term comparison to weigh lower monthly payments against borrowing cost.
How the calculation works
Amount financed equals vehicle price plus financed fees, minus the down payment and trade-in credit, floored at zero. For a fixed rate, the monthly payment uses the standard amortizing-loan formula. Total interest is total scheduled payments minus the amount financed.
Example
For a $30,000 vehicle with $5,000 down, no trade-in and no financed fees, the amount financed is $25,000. At an illustrative 7% annual rate over 60 months, the payment is about $495 per month and total interest is about $4,702. A lender's quote can differ.
Things to keep in mind
- Use an APR from an actual offer when available; advertised rates may not be available to every borrower.
- A longer term usually lowers the payment but increases total interest.
- Insurance, fuel, maintenance and registration are separate ownership costs.
- Enter taxes and fees only if you plan to finance them; avoid counting them twice.
- This is a planning estimate, not a loan offer or approval.
Frequently asked questions
How do I calculate a monthly car payment?
Estimate the amount financed, convert the annual rate to a monthly rate, then calculate equal payments over the loan term. This tool performs that calculation.
Does it include taxes and dealer fees?
Add them to the financed-cost field only if they will be included in the loan. Costs paid upfront should not be added there.
Is a 72- or 84-month loan cheaper?
It generally has a lower required monthly payment, but usually costs more in total interest than a shorter term for the same amount and rate.
Is this my exact lender payment?
No. It assumes a fixed rate and equal monthly payments. Lender fees, timing and contract terms can change the final amount.