Auto Loan Calculator
Calculate your monthly car payment including trade-in and down payment. See your total interest cost instantly.
Monthly Payment
$579.98
Amount Financed
$30,000.00
Total Interest
$4,799.04
Total Payment
$34,799.04
How This Auto Loan Calculator Works
This auto loan calculator determines your monthly car payment by accounting for four variables: vehicle price, down payment, trade-in value, and any existing loan on your trade-in. The net amount financed is: Vehicle Price − Down Payment − Trade-in Value + Negative Equity.
Once the loan amount is determined, the standard amortization formula calculates your monthly payment based on the interest rate and term length. Auto loans are typically available in terms of 24, 36, 48, 60, 72, or 84 months, with shorter terms carrying slightly lower interest rates from most lenders.
Auto loans are "front-loaded" for interest — meaning early payments are mostly interest, while later payments reduce the principal more significantly. This is why paying off a car loan early can save meaningful interest, especially in the first half of the loan term.
When comparing dealers, always ask for the money factor and term separately, then calculate the actual APR. Dealers sometimes quote a low monthly payment by extending the loan term rather than offering a better rate. Use this calculator to compare different rate-and-term combinations on an equal footing.