Auto calculator
Car Loan Calculator
Estimate monthly auto loan payments, interest, and total vehicle loan cost.
Quick answer
How do you calculate a car loan payment?
Subtract your down payment and trade-in from the car price, then apply M = P × r(1 + r)^n ÷ ((1 + r)^n − 1) with r = annual rate ÷ 12 and n = months. A $25,000 loan at 7% for 60 months is about $495 a month.
Monthly = (P − D) × r(1+r)^n / ((1+r)^n − 1)
⚡ Answer updates as you type · Enter = calculate · Esc = reset
Buying or refinancing a car? Enter the car price, any down payment, trade-in value, APR, and full loan term in months.
Monthly car payment: $554.43 • Amount financed: $28,000.00 • Total interest: $5,266.01 • Total loan cost: $33,266.01
Your payment is based on the amount financed: car price minus down payment and trade-in. A higher financed amount raises the monthly payment.
The Car Loan Calculator estimates payments for a new vehicle loan using price, down payment, and trade-in, or an existing loan using the current payoff balance and months remaining.
Disclaimer: This tool provides estimates for informational purposes only and is not financial advice. Please do your own due diligence and consult a qualified professional before making real-world financial decisions.
About this Car Loan Calculator
Estimate the monthly payment, total interest, and total cost of an auto loan. Compare different down payments, terms, and APRs before stepping into a dealership.
What you'll need
- • Vehicle price
- • Down payment
- • Trade-in value
- • Loan term
- • APR
- • Optional: sales tax
How it works
- 1. Subtract down payment and trade-in from the vehicle price.
- 2. Apply sales tax if you're financing it.
- 3. Use the standard amortization formula for the monthly payment.
Worked example
A $25,000 car with $3,000 down at 7% APR for 60 months has a monthly payment of about $435 and roughly $4,100 in total interest.
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Car Loan Calculator FAQ
What is the Car Loan Calculator?
The Car Loan Calculator is a free online tool that helps you estimate monthly auto loan payments, interest, and total vehicle loan cost.
How do I use the Car Loan Calculator?
Open the Car Loan Calculator, enter the requested values, and review the instant estimate on the page.
Is the Car Loan Calculator free?
Yes. The Car Loan Calculator is free to use on Fast Online Calculator and does not require an account.
Is a longer car loan cheaper?
A longer term lowers the monthly payment but raises total interest paid and increases the risk of being upside-down on the loan.
Should I put more money down on a car?
A larger down payment reduces the loan amount, lowers monthly payments, and helps protect against depreciation.
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