Auto Loan Calculator

This auto loan calculator estimates your monthly car payment and total borrowing cost. Enter the loan amount, annual interest rate, and loan term to see the estimated monthly payment, total repayment, and total interest. The loan amount is usually the vehicle price minus your down payment and trade-in credit, not necessarily the sticker price.

The true cost of owning a car includes more than the monthly payment. Sales tax, registration fees, dealer fees, insurance, maintenance, tires, parking, and fuel or charging costs should all be part of your budget. A longer loan term can reduce the monthly payment, but it often increases total interest and may leave you paying down the loan more slowly than the vehicle depreciates.

Compare several terms, such as 36, 48, 60, and 72 months, to see how payment and interest change. A low monthly payment can be attractive, but always check the total interest and length of the loan. This calculator and explanation are for general information only and are not loan, investment, tax, or legal advice. Read all purchase and financing documents carefully before signing.

If you may apply for a mortgage or another major loan in the next year or two, remember that an auto payment can affect your overall DTI. Ask not only whether the car payment fits today, but also whether it crowds out housing costs, emergency savings, insurance, and maintenance. In a high-rate or volatile-rate environment, a shorter term, larger down payment, or waiting to buy can sometimes be steadier than chasing the lowest monthly payment.