Car Loan Payment Calculator

Auto loan payment via amortization. Principal, APR, term → monthly + total interest.

Inputs

Result

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How to use this calculator

  • Enter vehicle price, down, trade-in.
  • Enter APR + loan term.
  • Compare to your budget.

About this calculator

Auto loans use standard amortization: equal monthly payment covers interest plus principal, with interest portion shrinking each month. 60-month (5-year) loans are most common in the US, but 72- and 84-month terms are growing — beware: longer = lower payment but more total interest, and risk of being "underwater" (owing more than the car is worth) longer. As of 2025-2026, average new-car APR runs 7-9%.

Frequently asked

Is 84 months too long?+
Risky. Most cars depreciate 30-50% in first 3 years. An 84-month loan keeps you upside-down for years — expensive if you total the car or trade early.
Down payment %?+
Aim for 10-20% to avoid being underwater immediately. New cars depreciate 10-15% the moment you drive off the lot.
How does APR vary?+
Credit-score driven. 740+ FICO: 4-6% on new. 660-739: 7-10%. Below 660: 12-18%+. Pre-approve at credit union for best rates.
Includes taxes & fees?+
No — this is principal only. Add tax (typically 6-9% of price) and dealer fees ($500-2000) to vehicle price for accurate financing.
New vs. used loans?+
Used loans are typically 1-3% higher APR than new. Sub-prime "buy here pay here" hit 18-22% — avoid.

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