Calculate your monthly car payment, total interest, and complete amortization schedule with our free auto loan calculator. Compare loan terms, down payments, and interest rates to find the best car financing plan for your budget.
| Payment # | Date | Payment | Principal | Interest | Balance |
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Understand how your auto loan payments are calculated in four simple steps.
Add your vehicle price, sales tax, down payment, APR, and loan term.
Our calculator uses the standard auto loan formula to estimate monthly payments.
See your principal, interest, and remaining balance in a detailed amortization table.
Adjust rates, terms, or down payments to compare different auto financing scenarios.
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The total loan amount after your down payment.
The yearly cost of borrowing, including interest and lender fees.
The duration of your repayment period, typically 24–84 months.
The process of reducing debt through regular monthly payments.
Better credit usually means lower interest rates.
Lowers your loan amount and reduces total interest.
Shop offers from banks, credit unions, and dealerships.
Using a paying-off-car-loan-early calculator can help you see interest savings.
Common questions about auto loans and our calculator.
The calculator uses the standard auto loan formula to estimate your monthly payment, total interest, and loan cost. It factors in your vehicle price, APR, down payment, and loan term.
The monthly car loan payment formula is: M = P × [r(1 + r)ⁿ] / [(1 + r)ⁿ - 1] Where M = monthly payment, P = loan amount, r = monthly interest rate, and n = total payments.
Yes. You can test scenarios by entering additional principal payments to see how much faster you can pay off your car loan and how much interest you’ll save.
Making extra payments toward the principal, switching to bi-weekly payments, or refinancing to a shorter term can help you pay off your car loan early and reduce total interest.
The interest rate is the base cost of borrowing, while the APR (Annual Percentage Rate) includes lender fees and represents the total annual borrowing cost.
Yes. You can enter sales tax and your down payment to calculate a more accurate monthly payment and total loan amount.
Absolutely. It works for both new and used vehicles—simply adjust the loan term and interest rate to match your lender’s terms.
Extra principal payments go directly toward reducing your loan balance, shortening your loan term and lowering total interest paid.
Shorter terms typically have higher monthly payments but lower total interest, while longer terms lower monthly costs but increase total interest over time.
No. All calculations are processed locally in your browser—your financial information is never saved, tracked, or shared.