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Auto Loan Calculator

Estimate a fixed-rate car loan payment, total interest, and remaining balance with term comparisons and a yearly repayment breakdown.

By AutomotiveCalc · Published September 9, 2026 · Method & standards

Your numbers

Example calculation

Example results are shown below. Controls become available when the calculator loads.

Enter the balance being financed after down payment and trade-in, including any costs added to the loan. Use the contract interest rate. The example rate is not a current offer.

Estimated monthly payment$579.98
Total interest$4,799.04
Total loan payments$34,799.04
Compare terms at the same balance and rate
MonthsMonthly paymentTotal interestTotal payments
24$1,329.62$1,910.84$31,910.84
36$912.66$2,855.69$32,855.69
48$704.55$3,818.44$33,818.44
60 (selected)$579.98$4,799.04$34,799.04
72$497.19$5,797.44$35,797.44
84$438.26$6,813.56$36,813.56

Every row uses your entered balance and interest rate. These are scenarios, not available offers; lenders may quote different rates for different terms. Change Loan term above to see that term’s repayment breakdown.

Repayment by loan year
Through monthPrincipal paid in periodInterest paid in periodBalance
12$5,304.10$1,655.71$24,695.90
24$5,631.24$1,328.57$19,064.66
36$5,978.56$981.25$13,086.10
48$6,347.31$612.50$6,738.80
60$6,738.80$221.01$0.00

Rows cover up to 12 payments each. The last period may be shorter. Values are rounded for display; the calculation retains full precision.

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How to use this calculator

Replace the example values with your own measurements or specifications. Keep the units shown beside each label. Results update as you type; reset restores the example.

This model assumes a fixed interest rate, equal monthly periods, payments at the end of each period, and full repayment with no balloon. It excludes extra payments, late fees, and daily interest timing. Actual lender rounding can change the final payment. A down payment is not included in total loan payments; neither are costs paid outside the loan.

The formula

For a monthly rate r = annual interest rate ÷ 1,200 and n monthly payments, payment = P × r ÷ [1 − (1 + r)⁻ⁿ], where P is the starting balance. At 0% interest, payment = P ÷ n. Each month: interest = remaining balance × r; principal paid = payment − interest; new balance = old balance − principal paid.

A worked example

A $30,000 balance at 6% annual interest over 60 months gives an estimated payment of $579.98, total interest of $4,799.04, and total loan payments of $34,799.04. At 0% over the same term, the payment is $500 and total interest is $0.

Common questions

Should I enter APR or the interest rate?

Use the contract interest rate for the repayment model. APR can include certain borrowing fees and can differ from the interest rate. Entering APR here is only a rough estimate when those fees matter; this calculator does not calculate a disclosure APR.

How do I include a down payment or trade-in?

Enter the starting balance you actually plan to borrow after those adjustments. Add any taxes, fees, add-ons, or remaining trade-in debt that will be financed. Tax treatment and lender calculations vary, so use the proposed loan balance when available.

Why can a longer term cost more?

For the same positive rate and starting balance, a longer term lowers the payment but keeps debt outstanding longer, increasing total interest. Compare both the payment and total interest when changing the term.

Does this work for a 0% loan?

Yes. At zero interest, the balance is divided equally across the selected months. Any fees financed into that balance are still repaid.

Why might my lender show a different result?

Many loans accrue interest daily; payment dates, first-period length, fees, rounding, and loan structure can affect the result. This tool uses equal monthly periods, not your lender’s payoff calculation.

Is a loan payment the full cost of owning a car?

No. Insurance, maintenance, energy, depreciation, and other costs also matter. Use the related ownership calculator for a wider comparison. Avoid counting loan principal again on top of depreciation.

Sources & calculation method

The CFPB explains how auto-loan amortization divides a fixed payment between interest and principal. This tool uses the equal-monthly-payment formula shown above, then updates the balance for each payment.

CFPB guidance on financing a vehicle distinguishes the interest rate from APR, which also reflects lender fees. Its explanation of simple versus precomputed interest describes daily or monthly balance-based interest. This calculator models equal monthly periods only and does not reproduce every loan contract.

References accessed September 9, 2026. These sources support the stated relationships and units; they have not reviewed or endorsed AutomotiveCalc.

Prepared with AI assistance. Formula examples and input validation have automated checks. This page has not received an independent automotive professional review. Read our review standards.