Auto Loan Calculator
Calculate your monthly car payment and see exactly how much you will pay in interest over the life of the loan. Includes a full amortization schedule.
Loan Summary
Fill in your vehicle details and click Calculate to see your monthly payment.
Amortization Schedule (Yearly)
See how your balance decreases over time and how much interest you pay each year.
| Year | Principal Paid | Interest Paid | Total Interest | Remaining Balance |
|---|---|---|---|---|
| Calculate a loan to view schedule | ||||
How This Calculator Works
This calculator uses the standard amortization formula to determine the monthly payment on a fixed-rate auto loan:
Variables: r is the monthly interest rate (APR / 12 / 100), and n is the total number of months (loan term). This calculation assumes interest compounds monthly.
Common Auto Loan Questions
What is a good APR for a car loan?
Auto loan interest rates depend heavily on your credit score and whether the car is new or used (used cars typically have higher rates). As of early 2026, excellent credit (780+) can secure rates between 5% and 7% on new cars. Borrowers with fair or poor credit may see rates from 12% to over 20%.
Should I finance for 60, 72, or 84 months?
While a longer loan term (like 72 or 84 months) lowers your monthly payment, it significantly increases the total interest you will pay over the life of the loan. Furthermore, cars depreciate quickly. A long loan term puts you at risk of being "underwater" (owing more on the car than it is worth) for years.
Most financial experts recommend a maximum loan term of 48 to 60 months.
Does this calculator include sales tax?
No, this calculator determines your payment based solely on the vehicle price, down payment, and interest rate. To get a perfectly accurate number, you should add your state's estimated sales tax, documentation fees, and title/registration fees into the "Vehicle Price" field.
Want to negotiate like a pro?
Read our full guide to auto loans, including how to secure pre-approval from a bank to beat the dealer's financing offers.