Auto Loan Calculator
Free online Auto Loan Calculator.
Calculator
How to Use
- Enter the required values
- Click Calculate to see the result
- Review the detailed output
Formula
M = P[r(1+r)^n] / [(1+r)^n - 1], where M = monthly payment, P = (Price - Down Payment - Trade-in), r = monthly rate, n = term in months. Total interest = M x n - P.
Example Calculations
New Car
Input: $35,000, $5,000 down, 5.9% APR, 60 months
Result: Monthly: $575.88, Total interest: $4,552.68
Used Car
Input: $18,000, $2,000 down, 7.5% APR, 48 months
Result: Monthly: $433.57, Total interest: $2,811.36
With Trade-In
Input: $30,000, $3,000 down, $4,000 trade, 4.5%, 72mo
Result: Monthly: $367.99, Total interest: $4,495.28
About This Calculator
Free online auto loan calculator. Calculate instantly in your browser with our easy-to-use tool. No sign-up required.
Our auto loan calculator is free, easy to use, and provides instant results. All calculations are performed in your browser for privacy and speed.
Related Calculators
Frequently Asked Questions
How is auto loan payment calculated?
Same amortization formula as other loans. Depends on amount, rate, and term.
Should I make a down payment?
10-20% recommended. Reduces loan amount, payments, total interest, and avoids negative equity.
Good loan term length?
36-48 months: higher payments, less interest. 60-72 months: lower payments, more interest.
Trade-in value effect?
Reduces amount financed. $5K trade-in on $25K car = only finance $20K.
What is GAP insurance?
Covers difference between loan balance and car value if totaled. Recommended with <20% down.
Can I refinance?
Yes, for lower rate or different term. Best when credit improved or rates dropped.