Auto Loan Calculator
Estimate your monthly car payment and total interest.
Loan amount
$30,000.00
Monthly payment
$594.04
Total interest
$5,642.16
Total of payments
$35,642.16
What is the Auto Loan Calculator?
An auto loan calculator estimates your monthly car payment and total interest based on the vehicle price, down payment, trade-in, rate, and term.
How the calculation works
The loan amount is the vehicle price minus your down payment and trade-in value. That amount is amortized over the loan term at your APR to produce a fixed monthly payment.
Example
A $35,000 vehicle with $5,000 down at 7% over 60 months means a $30,000 loan and a monthly payment of about $594, with roughly $5,600 in total interest.
Tips
- A larger down payment or trade-in lowers your loan and interest.
- Shorter terms cost more per month but less overall.
- Compare the APR, not just the monthly payment, across offers.
Limitations
Does not include sales tax, registration, dealer fees, or gap insurance, which vary by state and dealer.
Frequently asked questions
How is auto loan interest calculated?
Interest accrues on the remaining balance each month; your fixed payment covers interest first, then principal.
Does a trade-in reduce my loan?
Yes — the trade-in value is subtracted from the price, reducing the amount you finance.
Is a longer term cheaper?
It lowers the monthly payment but increases total interest paid over the life of the loan.
What APR should I expect?
It depends on your credit, the lender, and whether the car is new or used. Compare multiple offers.
Are taxes and fees included?
No — sales tax and fees vary by state and are not included in this estimate.
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Reviewed for the 2025 tax year
See our methodology, data sources, and editorial policy. Educational use only — not financial, tax, or investment advice (disclaimer).