Free Auto Loan Calculator

Car Payment Calculator

A car payment calculator estimates your monthly auto loan payment based on the vehicle price, down payment, interest rate, and loan term. For a $30,000 car with $3,000 down at 6% APR for 60 months, expect roughly $522 per month. Use our free calculator below to get your exact payment.

Monthly Payment

Get your estimated monthly auto loan payment in seconds.

Amortization Schedule

See how each payment splits between principal and interest.

Total Interest

Understand the full cost of your loan over the term.

Down Payment

See how a larger down payment reduces your payment.

Trade-In Value

Factor in your trade-in to lower the amount you finance.

Multiple Terms

Compare 36, 48, 60, 72, or 84-month loan terms.

Car Payment Calculator

Calculate your monthly payment with taxes, trade-in, and see the full amortization schedule.

Vehicle Details

$
$10,000$150,000
$
$
%

Loan Terms

%
0%25%
Monthly Payment
$641
Loan Amount
$32,450
Total Interest
$6,011

Cost Breakdown

Vehicle Price$35,000
Sales Tax (7%)$2,450
Down Payment-$5,000
Amount Financed$32,450
Total Interest Paid+$6,011
Total Cost of Vehicle$43,461

Payment Timeline

50% Paid Off
Month 33 (2.8 years)
75% Paid Off
Month 47 (3.9 years)
Loan Paid Off
Month 60 (5 years)

Principal vs Interest

Principal: $32,450
Interest: $6,011

You'll pay 18.5% of your loan amount in interest over 5 years.

Ready to find the best deal?

Get AI-powered price analysis and negotiation scripts for your specific vehicle.

What Factors Affect Your Car Payment?

Your monthly payment depends on several inputs. Adjust any of these in the calculator to see the impact.

  • Vehicle Price: Use our out-the-door calculator for true total cost.
  • Down Payment: A larger down payment reduces your loan amount and monthly payment.
  • Trade-in Value: Get an estimate with our trade-in calculator.
  • Interest Rate (APR): Check our loan prequalification for your likely rate.
  • Loan Term: Longer terms mean lower payments but more total interest.

Tips for Getting the Best Car Loan

Before you visit the dealership, use these steps to save money.

  1. Check your credit score and get pre-approved from your bank or credit union.
  2. Aim for 20% down to avoid being underwater. See our negative equity calculator.
  3. Choose the shortest term you can afford to minimize interest.
  4. Compare multiple lenders; dealers, banks, and credit unions often have different rates.
  5. Use our lease vs buy calculator to compare options. See total cost of ownership for the full picture.

Frequently Asked Questions

Common questions about this tool

What is a good interest rate for a car loan in 2025?

Interest rates vary based on credit score and loan term. For new cars, excellent credit (750+) typically gets 4-6% APR, good credit (700-749) gets 6-9%, and fair credit (650-699) gets 9-13%. Used car rates are typically 1-2% higher.

How much should I put down on a car?

Financial experts recommend 20% down for new cars and 10% for used cars. This helps avoid negative equity, reduces your monthly payment, and may qualify you for better interest rates.

Is a 72-month car loan a bad idea?

Longer loans (72-84 months) have lower monthly payments but cost significantly more in total interest. They also increase the risk of being upside-down on your loan. If you need a 72-month term to afford the payment, consider a less expensive vehicle.

Should I pay off my car loan early?

Paying off your car loan early can save you money on interest, but check for prepayment penalties first. If your interest rate is low (under 5%), you might earn more by investing the money instead.

What's included in a monthly car payment?

Your monthly car payment typically includes principal (loan amount) and interest. It may also include taxes and fees if you financed them. Insurance, registration, and maintenance are separate costs not included in the loan payment.

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