Auto Loan Payment Calculator
Estimate your monthly car payments and total interest costs
12 Months (1 Year)
24 Months (2 Years)
36 Months (3 Years)
48 Months (4 Years)
60 Months (5 Years)
72 Months (6 Years)
84 Months (7 Years)
Estimated Monthly Payment
$0.00
Total Loan Amount
$0.00
Total Sales Tax
$0.00
Total Interest Paid
$0.00
Total Cost (Price+Tax+Interest)
$0.00
How to Use the Auto Loan Calculator
Calculating your potential car payment is the most important step before visiting a dealership. This tool helps you understand how much vehicle you can actually afford by factoring in the price, your trade-in value, and current interest rates.
Key Factors That Affect Your Payment:
- Loan Term: While longer terms (72-84 months) lower your monthly payment, you will pay significantly more in total interest over the life of the loan.
- Interest Rate (APR): Your credit score is the primary driver of your interest rate. A higher score typically unlocks lower rates, potentially saving you thousands.
- Down Payment: Aiming for 20% down is a common recommendation to avoid "gap" situations where you owe more than the car is worth (being underwater).
- Sales Tax: Many people forget that sales tax is usually calculated on the purchase price and often rolled into the loan.
Example Calculation
If you purchase a car for $30,000 with a $5,000 down payment at a 6% interest rate for 60 months:
| Loan Amount | $25,000 |
| Monthly Payment | $483.32 |
| Total Interest | $3,999.20 |