See the payment. Understand the whole deal.
Car Loan Calculator
Estimate payments and compare the full cost of your loan.
Estimate payments and compare the full cost of your loan.
Your loan estimate
Estimated monthly payment
Where the amount financed comes from
Excludes the value of your trade-in and ongoing ownership costs such as insurance, fuel and maintenance.
Anyone with this link can see the numbers. Your account and scenario name are not included.
Sign in to save scenariosWhat would change your payment?
Same annual rate and purchase costs; any extra monthly payment is kept. A lender may quote a different rate for a different term.
Amortization schedule
Monthly model. On a small screen, scroll inside the table to see every column.
| Month | Payment | Principal | Interest | Interest to date | Balance |
|---|
Before you sign
- Match the price, taxes, fees, rebates and trade-in payoff to the buyer’s order. Check that no item appears twice.
- Compare the lender’s amount financed, interest rate, APR, payment schedule and total payments. Investigate any difference.
- Confirm how extra payments are applied and whether early repayment has a penalty. If you trade in, verify the old loan is paid off.
How this estimate works
A fixed annual rate, equal monthly periods, and payments at the end of each period. Interest is calculated on the remaining balance. This is an educational estimate, not a lender quote or approval.
Vehicle price + taxes + fees + add-ons + trade-in payoff − cash down − rebates − trade-in value − costs paid upfront.
Payment = P × r ÷ [1 − (1 + r)^(−n)], where P is the opening balance, r is the annual rate ÷ 1,200, and n is the number of months. At 0%, payment = P ÷ n.
Payments and each month’s interest are rounded to the nearest cent, half up. The last payment settles the remaining principal plus that month’s interest. Totals are the sum of the displayed schedule, so they can differ by a few cents from an unrounded formula.
This model does not reproduce daily interest, irregular first periods, variable rates, precomputed interest, penalties or a Truth in Lending APR calculation. APR includes certain borrowing fees; it is not always the contract interest rate. The estimated amount financed here is the opening loan balance.
Tax and fee amounts come from you. No state rate, trade-in tax credit or rebate tax treatment is assumed. If a cost is already in your vehicle price, do not add it again.
Method updated September 15, 2026
Sources & definitions
- CFPB: APR, interest rate and loan terms
- CFPB: comparing auto loan offers
- CFPB: trade-ins and negative equity
- CFPB: simple and precomputed interest
Sources consulted September 15, 2026. They explain the concepts; they do not endorse this calculator.
Questions about your estimate
Does this calculator include taxes and fees?
Only the amounts you enter in Taxes, fees & trade-in. The initial example sets those amounts to zero. Enter the tax and fees from your buyer’s order or your own estimates; the calculator does not infer state or local rules.
Why can my lender’s payment differ?
This calculator uses equal monthly periods. Your lender may accrue interest daily, have a different first payment period, round differently or include other costs. APR can also differ from the contract interest rate. Compare every input with the written quote.
How does a trade-in affect the loan?
The calculator subtracts the trade-in value and adds its loan payoff. A payoff above the value adds negative equity to the deal; a value above the payoff reduces the amount you need to finance. Cash down and rebates are then applied separately.
What happens with 0% interest?
The principal is divided across the selected term without interest. Because payments are in cents, the final payment may differ slightly. Taxes, fees and add-ons still count if you enter them.
Will extra payments always save this much?
The estimate assumes each extra payment immediately reduces principal and there is no prepayment penalty. Confirm your lender’s rules. Daily interest and precomputed-interest loans can produce different savings.
Is total loan payments the whole cost of owning the car?
No. It is the sum of payments on this loan. Cash upfront + loan payments also includes the cash due at purchase, but excludes the value of the trade-in and future insurance, maintenance, fuel and other ownership costs.