Auto Loan Payment Calculator

Auto loan payment calculator for monthly car repayments and total interest

An auto loan looks simple on paper: you borrow money, you repay it monthly. In real life, the monthly payment is only half the story. What matters is whether the payment fits your budget every month, and how much the loan costs you in interest over the full term. This auto loan payment calculator is built for one primary decision: estimating your monthly car payment before you sign a finance contract.

The default view is intentionally minimal. If you already know the amount you plan to finance, enter the loan amount, the interest rate (APR), and the loan term in months. The calculator will estimate your monthly payment using the standard amortization formula used for most fixed-rate car loans. It also shows total interest and total paid, so you can see the true cost of stretching the term or accepting a higher rate.

If you do not know the financed amount, the Advanced section helps you estimate it from common deal components: vehicle price, down payment, trade-in value, sales tax rate, and fees that get rolled into the loan. The calculator will use those values to estimate the loan amount financed, then calculate the monthly payment from that estimate. This is useful when you are negotiating a deal and want to understand how “small” changes to price, down payment, or term move the payment.

Assumptions and how to use this calculator

• This calculator assumes a fixed interest rate for the full loan term (typical for standard car finance agreements).
• Payments are calculated monthly and assume the same payment amount each month once the loan starts.
• If you use the Advanced section, sales tax is estimated as a percentage of the vehicle price (your local rules may differ).
• Fees are treated as upfront costs added to the amount financed only if you enter them (if you pay fees in cash, leave this at 0).
• Results exclude insurance, fuel, maintenance, registration renewals, and penalties (those are real costs, but separate from the loan payment).

Common questions

Why is my bank or dealership payment different?

Differences usually come from inputs that are not obvious: the lender may use a slightly different APR, include additional financed items (service plans, insurance products, registration, admin fees), or round payments. If your quote differs, compare the financed amount and APR first. Then check whether any extras were included in the loan.

What if my interest rate is 0%?

If the APR is 0%, the monthly payment is simply the loan amount divided by the number of months. The calculator handles this case directly so you still get a correct payment estimate, along with total paid and total interest (which would be zero).

Should I enter the vehicle price or the loan amount?

If you already have a firm quote for the amount financed, use the loan amount field and ignore Advanced. If you are still shopping and only know the vehicle price and your down payment, use Advanced to estimate the financed amount. The more accurate your inputs, the closer your estimate will be to a real finance quote.

Does a longer term always mean a better payment?

A longer term usually lowers the monthly payment, but it often increases the total interest paid. That can be a bad trade if you are stretching the loan just to “make the payment work.” Use the total interest and total paid figures to judge whether the lower monthly payment is worth the extra cost.

How can I reduce my monthly car payment the most?

In most cases, the biggest levers are (1) financing a smaller amount by increasing your down payment or buying a cheaper car, (2) getting a lower APR, and (3) extending the term. Extending the term can help short-term affordability, but it can materially increase total interest. If you need a quick reality check, look at both the monthly payment and total interest before deciding.