Auto Loan Calculator
Estimate car loan payments, total interest and cost of ownership.
Auto Loan Calculator
Estimate your monthly car payment, total interest and total cost of your auto loan.
Estimated monthly payment
Loan amount
Total interest
Total cost
Enter your details and press Calculate to see an instant breakdown.
How the auto loan calculator works
The monthly payment is calculated using the fixed-rate loan formula, which spreads the loan balance evenly over the term.
- M — monthly payment
- P — loan principal (vehicle price − down payment)
- r — monthly interest rate (annual ÷ 12)
- n — total number of payments (years × 12)
Example: a $30,000 car with a $5,000 down payment leaves a $25,000 loan. At a 5.9% annual rate over 5 years, the monthly payment is about $483.
Use it to: compare financing options, decide between different down payment amounts, or estimate the total cost of ownership over the life of the loan.