Calculate your monthly auto loan payment, total interest, and payoff schedule.
Wondering what your monthly car payment will be? Use this free auto loan calculator to instantly estimate your monthly payment, total interest, and the total amount you will pay over the life of the loan. Whether you are buying a new car or a used one, simply input the loan amount, the interest rate offered by the dealer or bank, and the loan term in years. A typical car loan term is 5 years (60 months), but you can adjust it to see how a shorter or longer term affects your monthly payment.
All calculations run 100% client-side in your browser. No signup, no tracking, and your financial data is never stored.
It's based on the loan amount, interest rate, and loan term (months). The calculator uses the standard amortization formula to determine your fixed monthly payment.
A 5-year loan will have a lower monthly payment, but you will pay more in total interest compared to a 3-year loan. Use the calculator to compare both scenarios.