Methodology
Monthly payment is estimated using a fixed-rate amortization schedule from financed amount, APR, and loan term. Total paid is monthly payment multiplied by number of payments, and total interest is total paid minus principal.
Auto Loan Calculator
Calculate your monthly car payment and total interest costs
Enter Details
Results
Loan Amount
$27,000.00
Monthly Payment
$509.52
Total Interest Paid
$3,571.40
Total Cost
$30,571.40
Auto Loan Tips
Shorter loan terms save significantly on total interest paid over time
Quick Facts
Average auto loan terms range from 4-6 years with rates around 5-8% APR
Note
Total cost includes principal + interest over the full loan term
How this auto loan calculator works
This calculator estimates principal-and-interest payments using your car price, down payment, APR, and loan term. It also shows total interest and total loan cost over the full repayment period.
- Loan amount = vehicle price minus down payment
- Monthly payment is estimated with an amortization formula
- Total cost combines principal and total interest
Last updated: February 2026
Auto loan calculator FAQ
Can I use percent or dollar down payment?
Yes. You can switch down payment type and the calculator will recalculate the loan amount automatically.
Does this include insurance, taxes, or dealer fees?
No. These results estimate loan payment only. Add insurance and fees separately for a complete vehicle budget.
How can I lower monthly payment?
A larger down payment, lower APR, or longer term can reduce monthly payment, though longer terms may increase total interest.
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Assumptions
- Rate stays fixed and payments are made monthly.
- No missed payments, late fees, or prepayment penalties are included.
- Taxes, registration, insurance, and dealer add-ons are excluded unless you include them in amount financed.
Worked example
Example: $35,000 vehicle price with $5,000 down means $30,000 financed. At 7% APR for 60 months, the calculator estimates a monthly payment and corresponding total interest over the full term.
Edge cases and limitations
- Negative equity roll-in from a trade-in can materially increase real cost.
- Very long terms may lower monthly payment while increasing total interest significantly.
- Promotional rates may require conditions not captured in this estimate.
When this calculator is not appropriate
Use final lender disclosures for purchase decisions. This tool is best for comparing scenarios before applying.