Car Loan Calculator

Work out the monthly payment on a car loan from the price, down payment, trade-in, interest rate and term — plus total interest and total cost.

  • Runs privately in your browser
  • Free, no sign-up
  • Updated

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The monthly car payment is the loan amount × r ÷ (1 − (1 + r)−n), where the loan is the price minus your down payment and trade-in, r is the monthly rate and n the number of months. A 30,000 car with 5,000 down and a 2,000 trade-in, at 7% over 60 months, costs about 455.43 a month.

How to use the Car Loan Calculator

  1. Enter the car price, your down payment and any trade-in value.
  2. Enter the yearly interest rate (APR) and choose the term.
  3. See the monthly payment, total interest and total cost instantly.

How the term changes what you pay

Loan of 23,000 at 7%Monthly paymentTotal interest
36 months≈ 710.17≈ 2,566
48 months≈ 550.76≈ 3,437
60 months≈ 455.43≈ 4,326
72 months≈ 392.13≈ 5,233
84 months≈ 347.13≈ 6,159

Longer loans lower the monthly payment but cost more interest overall — and a car loses value over time, so a long loan can leave you owing more than the car is worth.

Not included

Sales tax, registration, insurance and dealer fees aren't part of this calculation. Add them to the price if you are financing them.

Frequently asked questions

Is the result exact?

It is an accurate estimate based on the numbers you enter. Your lender’s figures can differ slightly because of fees, rounding, insurance or different payment dates.

Which currency does it use?

Any. Enter amounts in your own currency — the maths is the same everywhere.

What is APR?

The annual percentage rate — the yearly cost of borrowing. Enter the rate your lender quotes; the calculator converts it to a monthly rate.

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