See the real cost of your next car.
Enter the vehicle price, down payment, loan term and APR to see your monthly payment, total interest and total cost — calculated instantly in your browser.
Step 1 — Inputs
Auto loan calculator
Enter the vehicle price, down payment, loan term and annual interest rate (APR) to see your exact monthly payment and the total cost of financing.
Step 2 — Results
Your car loan summary
- Monthly payment
- ﷼ 1,584.86
- Amount financed
- ﷼ 81,000.00
- Total interest paid
- ﷼ 14,091.48
- Total amount paid
- ﷼ 95,091.48
Principal vs. interest
- Amount financed﷼ 81,000.00
- Total interest paid﷼ 14,091.48
Remaining balance over time
Estimates only — not financial advice. Actual payments include dealer fees, taxes, insurance and lender rates this calculator cannot know. Confirm figures with your lender.
Save & compare
Save this calculation to compare offers side by side.
How This Calculator Works
An auto loan is a simple amortizing loan: you borrow the financed amount (vehicle price minus your down payment) and repay it in equal monthly installments over the term.
Each payment covers a portion of interest and a portion of principal. Early payments are mostly interest; later payments are mostly principal.
The monthly payment formula
The calculator uses the standard amortization formula:
- M — monthly payment
- P — amount financed (price − down payment)
- r — monthly interest rate (APR ÷ 12)
- n — number of monthly payments (years × 12)
Tips to lower your car payment
- 1
Larger down payment
Every extra dollar down reduces the amount you finance, which lowers your monthly payment and the total interest you pay.
- 2
Shorter term
A 48-month loan has a higher monthly payment but much lower total interest than a 72-month loan.
- 3
Shop the APR
A one-point drop in APR saves hundreds of dollars over the life of the loan. Compare offers from banks, credit unions and the dealer.
Frequently asked questions
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