What is loan amortization?

Loan amortization means paying off a loan in regular installments, with each payment covering both principal and interest. Over time, you pay more toward principal and less toward interest.

Why does my monthly payment stay the same, but my balance drops faster over time?

Early payments mostly cover interest, but as your balance decreases, more of each payment goes toward principal, helping you pay off the loan faster in later years.

How can I reduce the total interest paid on my loan?

You can reduce total interest by making a larger down payment, shortening your loan term, or qualifying for a lower interest rate.

Can I export my results for sharing or future reference?

Yes. You can copy the results, export them as a PDF for printing, or download them as an Excel file for further analysis.

Does the calculator show my payment schedule?

Absolutely. It provides both yearly and monthly breakdowns, so you see exactly how much you’ll pay and how your balance changes throughout the loan.

Loan Amortization Calculator

Calculate monthly loan payments and balances.

Calculator Inputs

Loan details

Principal ($)

APR (%, 0–100)

Term (years, 0.5–30)

Results

Payment and totals

Monthly Payment

$1,580

Total Interest

$318,861

Total Payment

$568,861

Balance Over Time

Remaining balance by year

Principal vs Interest by Year

All 30 years

Yearly Breakdown

First 15 years. Download full schedule below for all 360 months.

Year	Principal	Interest	Balance
1	$2,794	$16,168	$247,206
2	$2,981	$15,981	$244,224
3	$3,181	$15,781	$241,043
4	$3,394	$15,568	$237,649
5	$3,621	$15,341	$234,027
6	$3,864	$15,098	$230,163
7	$4,123	$14,839	$226,041
8	$4,399	$14,563	$221,642
9	$4,694	$14,269	$216,948
10	$5,008	$13,954	$211,940
11	$5,343	$13,619	$206,597
12	$5,701	$13,261	$200,896
13	$6,083	$12,879	$194,813
14	$6,490	$12,472	$188,323
15	$6,925	$12,037	$181,398

Amortization Schedule

First 15 months. Download full schedule for all 360 months.

Month	Payment	Principal	Interest	Balance
1	$1,580	$226	$1,354	$249,774
2	$1,580	$227	$1,353	$249,547
3	$1,580	$228	$1,352	$249,318
4	$1,580	$230	$1,350	$249,089
5	$1,580	$231	$1,349	$248,858
6	$1,580	$232	$1,348	$248,625
7	$1,580	$233	$1,347	$248,392
8	$1,580	$235	$1,345	$248,157
9	$1,580	$236	$1,344	$247,921
10	$1,580	$237	$1,343	$247,684
11	$1,580	$239	$1,342	$247,446
12	$1,580	$240	$1,340	$247,206
13	$1,580	$241	$1,339	$246,965
14	$1,580	$242	$1,338	$246,722
15	$1,580	$244	$1,336	$246,478

For educational and estimation purposes only; not financial or legal advice. Standard U.S. amortization: fixed monthly P&I; actual loan terms vary by lender and situation.

Step-by-step instructions:

Input Your Vehicle and Loan Details
- Vehicle Price ($): Enter the sticker price of your vehicle.
- Down Payment ($): Input the amount you plan to pay upfront.
- Trade-In Value ($): If trading in your old car, enter its value.
- Sales Tax (%): Specify the applicable sales tax rate.
- Fees ($): Add any extra costs such as registration or documentation fees.
- Interest Rate (%): Enter your loan’s annual rate (e.g., 7.5%).
- Loan Term (months): Choose the repayment period (e.g., 60 months).
Calculate Results
- Press “Calculate” to see your personalized results.
Review Payment and Totals
- Amount Financed: Shows the net loan amount (vehicle price minus down payment and trade-in, plus sales tax and fees).
- Monthly Payment: Your fixed monthly payment for the selected term.
- Total Interest: The total interest you’ll pay over the life of the loan.
- Total Payment: Sum of all payments, including principal and interest.
Explore Detailed Charts and Tables
- Balance Over Time: Visualizes how your balance decreases each year.
- Principal vs. Interest by Year: Shows how your payments shift from mostly interest to mostly principal.
- Yearly Breakdown: The table shows the principal paid, the interest paid, and the remaining balance for each year.
- Payment Schedule: Month-by-month details for the first year, including payment, principal, interest, and remaining balance.
Export and Share
- Use “Copy” to quickly save results.
- “Export PDF” creates a printable summary for your records.
- “Export Excel” lets you work with your data in spreadsheet form.

Understanding Loan Amortization

Loan amortization is the process of gradually paying off a loan through regular payments. Each payment covers both the principal—the amount you borrowed—and the interest charged by the lender. With auto loans, amortization helps you see exactly how much you’ll pay each month, how much goes toward interest versus principal, and how your balance decreases over the life of the loan.Many people struggle to understand how their monthly payments are calculated, how much interest they’ll pay in total, or how quickly they’ll build equity in their vehicle. This calculator is designed to clarify those questions, so you can make confident decisions about borrowing, budgeting, and repaying your auto loan.

How This Calculator Helps

This Loan Amortization Calculator provides a clear, step-by-step breakdown of your auto loan. By entering your vehicle price, down payment, trade-in value, sales tax, fees, interest rate, and loan term, you instantly see:

Amount Financed: The actual sum you’ll borrow after factoring in your down payment, trade-in, taxes, and fees.
Monthly Payment: The exact amount you’ll owe each month.
Total Interest: The total cost of interest over the life of the loan.
Total Payment: The combined cost of principal and interest.
Balance Over Time: How your loan balance decreases each year.
Principal vs. Interest by Year: Annual breakdown showing how much of your payment goes toward principal versus interest.
Yearly and Monthly Schedules: Detailed tables showing payment, principal, interest, and balance for each period.

With easy export options (Copy, PDF, Excel), you can save or share your results for future reference or discussions with your lender.