◆ CALCULATOR
Auto Loan
Calculate your monthly payment, total interest cost, and the true price of a vehicle once financing is factored in.
Try an example
Monthly Payment
$528
Loan Amount
$27,000
Total Interest
$4,697
True Out-the-Door Cost
$34,697
| x | Balance (60-mo) |
|---|---|
| Yr 1 | $22,276 |
| Yr 2 | $17,237 |
| Yr 3 | $11,859 |
| Yr 4 | $6,122 |
| Yr 5 | $0 |
Show amortization schedule
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $1,616 | $4,724 | $22,276 |
| 2 | $1,300 | $5,040 | $17,237 |
| 3 | $962 | $5,377 | $11,859 |
| 4 | $602 | $5,738 | $6,122 |
| 5 | $218 | $6,122 | $0 |
How to use this calculator
- Enter the vehicle priceSticker or negotiated price, before tax and fees.
- Subtract your down payment and trade-inMore money down means a smaller loan and less total interest.
- Set the rate and termA longer term lowers the monthly payment but raises total interest.
A car is the largest purchase most people finance after a home, and the loan terms decide what it truly costs. The monthly payment a dealer quotes hides the total, which the rate and the term length quietly drive.
◆ Frequently Asked Questions
Should I include sales tax and fees in the loan?
Include them if you plan to finance them, which is common. Rolling tax and fees into the loan raises the amount you borrow and the interest you pay, so paying them in cash up front is cheaper if you can.
Is a longer loan term a good idea?
A longer term lowers the monthly payment but raises the total interest, and it keeps you owing more than the car is worth for longer. Compare a shorter term before you stretch to 72 or 84 months.
How much should I put down?
A larger down payment shrinks the loan, lowers the interest, and reduces the risk of owing more than the car is worth. Twenty percent is a common target, but any amount down helps.
What rate should I use if I do not know mine?
Your rate depends mostly on your credit. If you have not been quoted one, enter a range and compare. Strong credit often qualifies for several points lower, which the calculator shows in real dollars.
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