Auto Loan Calculator
Estimate monthly payments and total cost for a vehicle purchase including down payment and trade-in value.
Results
What is it?
The auto loan calculator estimates your monthly car payment by factoring in the vehicle price, any down payment or trade-in credit, the interest rate, and the chosen loan term. It uses the standard PMT annuity formula used by dealerships and banks.
How to use
Enter the sticker or negotiated price, subtract any cash down payment and trade-in value, pick an interest rate and term length. The calculator shows the financed amount, monthly payment, total interest, and the overall cost of the vehicle.
Example scenario
A $35,000 car with $5,000 down, no trade-in, at 5.9 % for 60 months results in a $30,000 loan with a monthly payment of about $580 and roughly $4,800 in interest over the life of the loan.
Pro tip
Shorter loan terms (36–48 months) carry higher monthly payments but dramatically reduce total interest. A 60-month loan at 5.9 % costs nearly twice the interest of a 36-month loan at the same rate.