Auto Loan / Car Loan Calculator
Estimate your monthly car payment, total interest, and total cost of an auto loan.
Auto Loan Cost Breakdown
About This Auto Loan Calculator
Buying a new or used vehicle often involves comparing different loan amounts, interest rates, and repayment terms. Our free Auto Loan Calculator helps US car buyers estimate the monthly payment and total cost of financing a vehicle. Enter the vehicle price, down payment, annual percentage rate, and loan term to see an estimated payment instantly.
The calculator determines the estimated amount financed after subtracting the down payment from the vehicle price. It then applies the selected annual interest rate over the chosen repayment period. The results include the estimated monthly payment, total interest, and total amount paid toward the loan.
A lower monthly payment does not always mean a cheaper auto loan. Extending a loan from four years to six or seven years can reduce the monthly payment while increasing the total interest paid. Comparing the total loan cost is therefore important when shopping for a vehicle.
Your real-world vehicle purchase may include additional expenses such as sales tax, title and registration fees, dealer fees, warranties, insurance, and optional products. These expenses are not included in this basic calculator. Some lenders may also calculate interest differently depending on the loan agreement.
Use this calculator before visiting a dealership to understand a reasonable payment range. You can experiment with a larger down payment, a lower APR, or a shorter term and immediately see how those changes affect the overall cost of financing.
The chart provides a simple visual comparison between the amount borrowed and the interest paid over the selected loan term. This makes it easier to understand the long-term cost of an auto loan rather than focusing only on the monthly payment.