Enter the numbers below to see your estimated monthly payment and how much the loan really costs over its lifetime. Results are an educational estimate, not a loan offer.
How the auto loan calculator works
Your monthly car payment depends on four things: how much you borrow, the interest rate, the loan term, and how the loan is structured. This tool uses the same amortization math lenders use.
1. The amount financed
We start with the vehicle price, subtract your down payment and any trade-in value, then add sales tax (charged on the price minus trade-in in most states). The result is your loan principal — the amount you actually borrow.
2. Interest and term
The APR is spread across the number of months you choose. A longer term lowers your monthly payment but increases the total interest you pay. A shorter term costs more per month but far less overall.
3. Your monthly payment
Using standard amortization, the calculator solves for the fixed monthly payment that pays off the loan by the end of the term, and shows the total interest so you can see the real cost of the loan.
Guides & resources
New to car financing? These plain-English guides walk you through it:
- How auto loans work — the basics, start to finish.
- APR vs interest rate — what the difference really means.
- How to lower your car payment — practical levers.
- New vs used car loans — rates, depreciation and trade-offs.
- How much car can I afford? — the 20/4/10 rule and more.
- See all guides →
Frequently asked questions
How accurate is this auto loan calculator?
It uses standard loan amortization, so the monthly payment is accurate for the numbers you enter. Real quotes can differ because of lender fees, exact tax rules in your state, and the APR you qualify for based on your credit.
Does a longer loan term lower my payment?
Yes — but it raises the total interest. A 72- or 84-month loan has a smaller monthly payment than a 48-month loan on the same car, yet you pay noticeably more over the life of the loan.
What's a good APR for a car loan?
It depends heavily on your credit score and whether the car is new or used. Buyers with strong credit get the lowest rates; see new vs used car loans for how it varies.
Should I put more money down?
A larger down payment reduces the amount you finance, lowers your monthly payment and cuts total interest. It also reduces the risk of owing more than the car is worth. More in how to lower your car payment.