Car Loan Calculator
Calculate your auto loan payments, total interest, and view detailed amortization schedule.
Loan Details
Quick Examples
Enter your car details to calculate loan payments
Car Buying & Financing Tips
Down Payment
A larger down payment reduces your loan amount, monthly payments, and total interest paid. Aim for at least 10-20% down on a new car, 10% on used cars.
Loan Term
Shorter loan terms mean higher monthly payments but less total interest. Longer terms reduce monthly payments but increase total cost significantly.
Shop Around
Compare rates from banks, credit unions, and dealerships. Credit unions often offer the best rates for qualified borrowers.
Total Cost
Focus on the total cost of the loan, not just monthly payments. A lower monthly payment might mean paying more over the life of the loan.
Credit Score
Your credit score significantly affects your interest rate. Check your credit report and improve your score before applying.
Pre-approval
Get pre-approved for financing before shopping. This gives you negotiating power and helps you understand your budget limits.
About This Calculator
This car loan calculator helps you estimate your monthly payment and total cost for auto financing. It includes factors like down payment, trade-in value, sales tax, and additional fees to give you a comprehensive view of your car purchase costs.
The calculator uses the standard loan payment formula and generates a detailed amortization schedule showing how your payments are split between principal and interest over the life of the loan.
Important: These calculations are estimates for planning purposes. Actual loan terms, rates, and payments may vary based on your creditworthiness, the lender, and current market conditions. Always verify details with your lender before making financial decisions.