Free calculator

Auto Loan Calculator

Free Auto Loan Calculator with instant browser-based results and a clear calculation breakdown.

🚗 Auto Loan Calculator

Calculate your monthly car payment, total interest, and total cost based on loan amount, interest rate, and loan term.

Loan Amount ($)

Please enter a valid loan amount greater than 0

Down Payment ($)

Please enter a valid down payment (0 or greater)

Annual Interest Rate (%)

Please enter a valid interest rate between 0 and 100

Loan Term (months)

Please enter a valid loan term between 1 and 360 months

Your Loan Summary

Monthly Payment: $0.00

Total Interest: $0.00

Total Amount Paid: $0.00

Principal (After Down Payment): $0.00

How It Works

This calculator uses the standard amortization formula to compute your monthly payment:

M = P × [r(1 + r)^n] / [(1 + r)^n - 1]

Where: M = Monthly payment, P = Principal (loan amount minus down payment), r = Monthly interest rate (annual rate ÷ 12 ÷ 100), n = Number of payments (months)

Total Interest is calculated as: (Monthly Payment × Number of Months) - Principal

Total Amount Paid includes the principal plus all interest over the life of the loan.

Note: This calculator provides estimates for educational purposes. Actual loan terms may vary based on lender requirements, fees, and other factors.

Want to understand the calculation?

See examples, formula notes and limitations.

Read the guide