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Car Loan Calculator

Monthly car payment from the price, down payment, rate, and term. Total interest and payoff schedule included.

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Your loan
$
$

10% down · borrowing $27,000

% per year
years
$

Optional. Goes straight to principal and ends the loan sooner.

Monthly payment
$534.63
Total interest
$5,078
Total paid
$32,078
Paid off in
5 years
Interest per day
$5.18
in the first month
Total$32.1K
  • Principal$27,00084%
  • Interest$5,07816%
Small change, big saving

Add $53 a month and you save $555 in interest, finishing 6 months sooner.

Worth shopping around

A rate of 6.00% instead of 7% would cost $759 less in interest and $12.65 less a month.Half the loan is repaid in year 3; the first year alone costs $1,742 in interest.

Over the life of the loan
Balance leftInterest paid so farHover for any year
yr 1yr 2yr 3yr 4yr 5
Compare scenariosSave this one, change a number, save again
Year by year5 years · click a year for months
YearPrincipalInterestBalance
1$4,674$1,742$22,326
2$5,012$1,404$17,315
3$5,374$1,042$11,941
4$5,762$653$6,179
5$6,179$237$0

How a car loan payment works

The amount financed is the price minus your down payment and any trade-in. The monthly payment then repays that amount with interest over the term. Longer terms lower the payment but raise the total interest and can leave you owing more than the car is worth for the first few years.

Term length and total cost

Moving from a 4-year to a 7-year loan on the same car can cut the payment by a third while adding hundreds or thousands in interest. Save both as scenarios and compare the total interest, not just the monthly number.

Rate depends on credit and car age

New cars get lower rates than used ones, and a strong credit score can be several percentage points cheaper. Try the slider to see what one percentage point is worth over the life of your loan.

Taxes, fees and add-ons

Sales tax, registration and dealer fees are often rolled into the financed amount. If yours will be, add them to the vehicle price so the payment here matches what the dealer quotes.

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