Auto Loan Calculator
Estimate your monthly car loan payments based on vehicle price, interest, and loan term.
How to use this calculator
Enter the vehicle price, down payment, repayment term in years, and annual interest rate, then select Calculate. The tool subtracts the down payment from the price to obtain the financed amount. Enter a down payment that is no larger than the price and keep the currency consistent.
WORKED EXAMPLE
A $25,000 vehicle with $5,000 down leaves $20,000 to finance before added taxes or fees. At 5% over 5 years, the estimated monthly payment is about $377.42. At 0% over 60 months, the payment is about $333.33. The down payment is paid separately; it is not one of the monthly loan repayments.
UNDERSTAND THE TOTALS
Loan repayments are the payments made toward the financed balance and interest. To compare the purchase’s overall cash cost, also account for the down payment and any charges paid upfront. Do not add the down payment to the financed amount after the calculator has already subtracted it.
COMPARE TERMS CONSISTENTLY
The model uses fixed-rate monthly installments and an annual rate divided by 12. A longer term can lower the payment while extending the time interest accrues. Compare total interest as well as the monthly amount, using the same price, down payment, and rate.
Sales tax, registration, dealer fees, optional products, trade-ins, existing loan balances, insurance, fuel, and maintenance are not separate inputs here. Work out which costs are paid upfront or financed before comparing a dealer quote with this result. Real lender interest methods, fees, and rounding can differ. This is a payment estimate, not an approval or an affordability decision.