What factors affect my auto loan monthly payment?

Your monthly payment depends on the loan amount, interest rate, and loan term. Higher interest rates or shorter terms increase payments, while a larger down payment or trade-in can lower them.

How does the loan term impact total interest paid?

Longer loan terms usually mean lower monthly payments but higher total interest costs. Shorter terms have higher payments but save you money on interest overall.

Is it better to make a larger down payment?

Yes, a larger down payment reduces the amount you need to finance, which lowers your monthly payment and total interest paid.

Can I include sales tax and fees in the calculation?

Yes. Enter your local sales tax rate and any required fees to see an accurate amount financed and payment estimate.

How do I view my full payment schedule?

The calculator displays your first 12 monthly payments. For the complete schedule, click "Download Full Schedule" to get a detailed breakdown for the entire loan term.

What formats can I export my results in?

You can export your results as a PDF or Excel file, making it easy to save, print, or share your loan details as needed.

Auto Loan Calculator

Easily estimate auto loan payments and total costs.

Calculator Inputs

Vehicle and loan details

Vehicle Price ($)

Down Payment ($)

Trade-in Value ($)

Sales Tax (%, 0–25)

Fees ($)

APR (%, 0–100)

Loan term

1–144 months (e.g. 36, 60, 84)

Results

Payment and totals

Amount Financed

$32,600

Monthly Payment

$653

Total Interest

$6,594

Total Payment

$39,194

Balance Over Time

Remaining balance by year (5 years)

Principal vs Interest by Year

All 5 years

Yearly Breakdown

First 15 years. Download full schedule for all 5 years.

Year	Principal	Interest	Balance
1	$5,583	$2,256	$27,017
2	$6,017	$1,822	$21,000
3	$6,484	$1,355	$14,517
4	$6,987	$852	$7,529
5	$7,529	$309	$0

Payment Schedule

First 15 months. Download full schedule for all 60 months.

Month	Payment	Principal	Interest	Balance
1	$653	$449	$204	$32,151
2	$653	$452	$201	$31,698
3	$653	$455	$198	$31,243
4	$653	$458	$195	$30,785
5	$653	$461	$192	$30,324
6	$653	$464	$190	$29,861
7	$653	$467	$187	$29,394
8	$653	$470	$184	$28,924
9	$653	$472	$181	$28,452
10	$653	$475	$178	$27,977
11	$653	$478	$175	$27,498
12	$653	$481	$172	$27,017
13	$653	$484	$169	$26,532
14	$653	$487	$166	$26,045
15	$653	$490	$163	$25,555

For educational and estimation purposes only; not financial or legal advice. Auto loan terms, rates, and dealer/lender conditions vary in the U.S. Consult a lender for actual terms.

Using this calculator is straightforward. Here’s how each step and feature works:

What You Enter

Vehicle and Loan Details

Vehicle Price ($): The total cost of the car you intend to buy.
Down Payment ($): The amount you’ll pay upfront to reduce your loan.
Trade-In Value ($): The value of your current car, if you’re trading it in.
Sales Tax (%): The sales tax rate in your state or locality.
Fees ($): Any additional one-time fees required at purchase (such as title or dealer fees).
Interest Rate (% APR): The annual percentage rate your lender offers.
Loan Term (months): How many months will it take you to repay the loan?

After entering these details, click Calculate to see your results. You can select Reset at any time to clear your entries and start over.

What You See

Results

Amount Financed: Calculated as vehicle price minus down payment and trade-in, plus sales tax and fees.
Monthly Payment: The fixed monthly amount you’ll pay based on the loan amount, interest rate, and term.
Total Interest: The total cost of interest over the life of the loan.
Total Payment: The sum of all payments (principal + interest) you'll make to pay off the loan.

Charts and Tables

Balance Over Time: A visual chart showing how your loan balance decreases each year.
Principal vs Interest by Year: See how your payments are split between principal and interest over time.
Yearly Breakdown Table: View detailed yearly figures for principal paid, interest paid, and remaining balance for the first 10 years.
Payment Schedule Table: Examine your payments month-by-month for the first 12 months, including how much goes to principal and interest and your remaining balance. You can download the full schedule for a complete view.

Exporting and Sharing

Copy: Instantly copy your results to share or save.

Export PDF / Export Excel: Download your full results and schedules in PDF or Excel format for your records or further analysis.

Understanding Auto Loans

An auto loan is a type of personal loan used to purchase a vehicle. Most people use auto loans when buying a new or used car, as paying the full price upfront isn't always practical. With an auto loan, you borrow money from a lender and pay it back over time, typically in monthly installments.

Key terms to know:

Principal: The amount you borrow to pay for the car.
Interest: The cost of borrowing, expressed as a percentage of the loan amount.
Term: How long you have to pay back the loan, usually measured in months.

Auto loans help make car ownership accessible, but can be confusing. Many buyers wonder how much they’ll pay each month, how much interest they’ll owe, or how quickly they’ll pay down their balance. This calculator is designed to answer those exact questions and bring transparency to your auto loan decisions.

How This Calculator Helps

This auto loan calculator makes it easy to estimate your car payments and understand the full cost of financing a vehicle. By entering details about your vehicle purchase and loan, you’ll see instant results, including:

Amount Financed: The actual loan amount after accounting for your down payment, trade-in, sales tax, and fees.
Monthly Payment: What you’ll owe each month, based on your loan details.
Total Interest and Total Payment: See how much you’ll pay in interest over the life of the loan and your total out-of-pocket cost.
Year-by-Year Breakdown: Track your remaining balance, how much of each payment goes to principal vs. interest, and how your loan balance changes over time.
Payment Schedule: Review a detailed month-by-month payment table for the first year, with the option to download the full schedule.

Instead of guessing or relying on rough estimates, this tool gives you a clear, personalized breakdown so you can plan your budget and compare loan options confidently.