Financial Calculators
Auto Loan Calculator
Work out your monthly car payment and total interest from the vehicle price, down payment, APR, and loan term.
Quick guide
Enter the vehicle price, your down payment, the APR, and the term in months to estimate the monthly car payment and the total interest. Longer terms lower the payment but increase the interest you pay.
Read the full explanationHow It Works
Auto loans are amortizing loans secured by the vehicle. Longer terms lower the payment but raise total interest — and cars depreciate, so long loans risk owing more than the car is worth.
Formula Used
M = P · r(1+r)ⁿ / ((1+r)ⁿ − 1), where P = price − down payment.
Example Calculation
A $32,000 car with $5,000 down at 7.5% for 60 months costs about $541 per month and roughly $5,460 in interest.
Practical Use Cases
- Set a realistic car budget before visiting a dealer.
- Compare 48-, 60-, and 72-month terms side by side.
- See how a bigger down payment changes the payment.