Calculate your auto loan monthly payment and total cost, factoring in vehicle price, down payment, trade-in value, interest rate, and loan term.
Enter your details and click Calculate to see results.
Saved Presets is a Supporter feature.
Tool History is a Supporter feature.
Tool Notes is a Supporter feature.
Input the full purchase price of the vehicle before any deductions.
Provide the cash amount you are paying upfront toward the vehicle.
If trading in a vehicle, enter its value. This reduces the loan amount.
Enter your lender's annual interest rate and enter your preferred loan term in months.
See your loan amount, monthly payment, total interest, and total cost.
Loan Amount = Vehicle Price - Down Payment - Trade-In Value. This is the principal you will borrow and pay interest on.
Monthly Payment = (P x r x (1 + r)^n) / ((1 + r)^n - 1), where P is the loan amount, r is the monthly interest rate, and n is the loan term in months.
Total Interest = (Monthly Payment x Loan Term) - Loan Amount. This is the total finance charge over the life of the loan.
Longer terms (60 or 72 months) reduce monthly payments but increase total interest paid. Shorter terms (36 or 48 months) cost less in interest but require higher monthly payments.
Yes. A larger down payment reduces your loan amount, which lowers both your monthly payment and the total interest you pay over the life of the loan.
