Auto Loan Calculator

Use this free auto loan calculator to find the monthly car payment, total interest, and total cost. Supports new, used, and refinance.
Loan Details
Enter your auto loan information

Calculate Your Auto Loan Payment

Enter vehicle price, down payment, and loan terms to see your monthly payment

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How Auto Loan Calculations Work

1

Net Loan Amount

Subtract down payment and trade-in value from the vehicle price to get your actual loan amount.

2

Monthly Payment

Using the amortization formula, we calculate your fixed monthly payment over the loan term.

3

Interest Breakdown

Each payment splits into principal and interest, with early payments favoring interest.

Tips for getting the best auto loan:

  • Improve your credit score: Higher credit scores typically qualify for lower interest rates
  • Larger down payment: Reduces the loan amount and may qualify you for better rates
  • Shorter loan terms: Less total interest paid, though monthly payments will be higher
  • Shop around: Compare rates from banks, credit unions, and dealer financing
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How our auto loan calculator works

1

Enter vehicle price and down payment

Type the negotiated price and any down payment, trade-in, or dealer rebate. The loan amount is price minus down payment.

2

Set rate and term

Type the APR (annual percentage rate) and loan term in months or years. Most auto loans are 36-72 months; longer terms lower payments but cost more interest.

3

Add sales tax if applicable

Enter your states sales tax rate. We compute tax on the vehicle price and add it to the loan principal so the monthly payment is accurate.

Key things to know about our auto loan calculator:

  • Average APRs in 2025: Prime credit gets 5-7% on new cars, 8-12% for average credit, 15%+ for subprime.
  • Term length matters: 60 months is a good rule of thumb; longer terms lead to being upside-down (owing more than the car is worth).
  • Compare lenders: For total cost of ownership, pair with our loan calculator and refinance calculator for rate shopping.

For related calculations, try our loan calculator.