Free auto finance tool
Auto Loan Calculator — Monthly Payment & Interest
Calculate your exact monthly car payment with tax, title, fees and down payment. See total interest, the full amortization schedule, and how extra payments shorten your loan. Whether you call it an auto loan calculator, a car loan calculator or a vehicle loan calculator, the tool below shows the complete picture — monthly payment, total interest, and the full month-by-month schedule.
Calculate Your Auto Loan
Adjust any value — results update instantly.
| # | Payment | Principal | Interest | Balance |
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| Term | Monthly | Total interest | Total cost |
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How the Auto Loan Calculator Works
Enter the vehicle price, your down payment, trade-in value, local sales tax rate and estimated fees. The calculator first figures your amount financed — price plus tax and fees, minus down payment and trade-in — then applies the standard loan amortization formula to compute your monthly payment, total interest and the full payoff schedule.
The Monthly Payment Formula
Monthly payment = P × r(1+r)n ÷ ((1+r)n − 1), where P is the amount financed, r is the monthly interest rate (APR ÷ 12), and n is the number of payments. Every payment splits into interest (charged on the remaining balance) and principal (which reduces the balance).
Why Extra Payments Matter So Much
Because auto loans use simple interest on the declining balance, an extra $100/month on a $35,000 loan at 6.5% APR for 60 months saves $919 in interest and cuts 8 months off the loan (paid off in month 52). Try it above — the payoff date and savings update live.
Tips to Get the Best Auto Loan
- Shorter is cheaper: a 48-month loan at the same APR costs thousands less in interest than a 72-month loan.
- 20% down is the sweet spot: it keeps you from going underwater (owing more than the car is worth).
- Check the out-the-door price: negotiate the vehicle price first, then let the calculator add tax and fees.
- Watch the APR, not just the payment: dealers can stretch the term to hit a payment target while you pay far more interest.
- Already have a loan? Run your current rate against today’s offers in our auto refinance calculator before you commit to a new one.
Before you sign, it is worth reading the Consumer Financial Protection Bureau’s auto loan guidance on how lenders price loans and what to check in the paperwork.
Car Payment Examples: What Common Car Loans Actually Cost
Short on time? Here are the answers for the loan amounts and terms drivers ask about most. Every figure assumes no down payment, tax or fees — run your own numbers in the calculator above for an exact result.
How Much Is a $30,000 Car Payment for 72 Months?
At 9% APR, a $30,000 car loan paid over 72 months costs $541 a month, and you would pay $8,935 in interest over the life of the loan. Your rate matters more than most drivers expect:
| APR | Monthly payment | Total interest |
|---|---|---|
| 5% | $483 | $4,787 |
| 6.5% | $504 | $6,309 |
| 7.9% | $525 | $7,766 |
| 9% | $541 | $8,935 |
| 11% | $571 | $11,114 |
The same loan at 5% instead of 11% saves $6,327 in interest — which is why shopping two or three lenders beats negotiating $500 off the car’s price.
Monthly Payments for Common Loan Amounts (7% APR)
| Loan amount | 36 months | 48 months | 60 months | 72 months |
|---|---|---|---|---|
| $15,000 | $463 | $359 | $297 | $256 |
| $20,000 | $618 | $479 | $396 | $341 |
| $25,000 | $772 | $599 | $495 | $426 |
| $30,000 | $926 | $718 | $594 | $511 |
| $40,000 | $1,235 | $958 | $792 | $682 |
| $50,000 | $1,544 | $1,197 | $990 | $852 |
More Worked Examples
A $28,000 loan at 6.35% APR for 60 months: $546 a month, $4,753 in total interest.
A $58,300 loan at 7% APR for 6 years (72 months): $994 a month, $13,265 in total interest.
A $35,000 loan at 7.5% APR for 60 months: $701 a month, $7,080 in total interest.
Using This Calculator for a Used Car Loan
The math does not change for a used car — only the rates do. Used-car APRs typically run 2–4 points higher than new-car rates, so set a realistic rate before trusting the payment. Example: a $22,000 used car at 9.5% APR over 60 months costs $462 a month and $5,722 in interest. On a used car, a shorter term matters even more: the car is already several years old, and a long loan can leave you owing more than it is worth.
Loans Longer Than 84 Months: What 120, 144 or 180 Months Really Cost
A few lenders now advertise auto loans of 96, 120, 144 — even 180 months. This calculator deliberately stops at 84. On a $30,000 loan at 9% APR, stretching the term looks like this: 84 months — $483 a month, $10,544 interest. 120 months — $380 a month, $15,603 interest.
144 months — $341 a month, $19,163 interest. 180 months — $304 a month, $24,770 interest. Going from 84 to 180 months saves $179 a month but adds $14,226 in interest — and for most of those 15 years you would owe more than the car is worth. If a payment only works at 120+ months, the car is too expensive.
Find a Loan by Monthly Payment (Working in Reverse)
This tool works forwards — price in, payment out. To work backwards from a monthly budget, use this rule of thumb at 7% APR over 60 months: every $1,000 you borrow costs about $19.80 a month. A $400 monthly budget therefore supports a loan of about $20,000; $500 a month supports about $25,000. Set the calculator’s price so the amount financed lands on your target, then check the total interest — the payment you can afford is not always the loan you should take.
Financing an Electric Car
An EV loan works exactly like any other auto loan — same formula, same amortization. Two things differ. First, the purchase price: EVs still tend to cost more upfront, which pushes borrowers toward longer terms (see why that is expensive, above).
Second, the running costs you save on fuel and maintenance can be redirected as an extra monthly payment, which is where an EV loan quietly wins. When you compare offers, check our US EV tax credit eligibility checker to see whether any state or utility incentive still applies to the car you are buying.
Frequently Asked Questions
How is the monthly auto loan payment calculated?
With the amortization formula: payment = P × r(1+r)n ÷ ((1+r)n − 1). P is the amount financed (price + tax + fees − down payment − trade-in), r is the monthly rate (APR ÷ 12), and n is the number of months.
What is a good APR for a car loan in 2026?
Prime borrowers (720+ credit) typically see 5–7% on new cars. Near-prime (670–719) runs 7–10%, and subprime can exceed 12%. Your credit score is the biggest factor.
Should I choose a 60 or 72 month loan?
60 months costs less in total interest and builds equity faster. 72 months lowers the payment but you pay significantly more interest and risk going underwater. Compare both in the “Compare terms” tab above.
Does sales tax apply to the price before or after down payment?
In most states, sales tax applies to the negotiated vehicle price before down payment, but after trade-in credit. Some states tax the full price with no trade-in credit — check your state’s rules.
How much extra payment shortens my loan?
Enter any extra monthly amount above — the calculator shows your new payoff date and interest saved. Even $50/month makes a meaningful difference.
What fees should I expect when buying a car?
Common fees: documentation ($200–$800), title and registration ($50–$400 depending on state), and destination charge on new cars ($1,000–$1,500, usually baked into MSRP). Question any fee labeled “dealer prep” or “market adjustment.”
Can I pay off my auto loan early without penalty?
Most auto loans in the US have no prepayment penalty, but always confirm with your lender. Paying extra each month is the simplest way to save on interest.
How much car can I afford?
A common guideline is the 20/4/10 rule: 20% down, no more than 4-year term (though 5 is common), and total car costs under 10–15% of gross monthly income. TFor a budget-first answer based on your income, try our car affordability calculator.
How much is a $30k car payment for 72 months?
It depends on your APR. On a $30,000 loan over 72 months with no down payment: at 5% APR the payment is $483 a month; at 6.5%, $504; at 7.9%, $525; at 9%, $541; and at 11%, $571. Total interest ranges from $4,787 at 5% to $11,114 at 11% — your credit score, through the rate it earns you, is the biggest lever on what the car really costs.
Can I use this calculator for a used car loan?
Yes — the calculation is identical for new and used cars. Enter the used car’s price, set an APR that reflects used-car rates (usually 2–4 points higher than new-car rates), and the payment, total interest and amortization schedule will be correct for that loan.
What is the longest auto loan term I can get?
Most banks and credit unions cap auto loans at 84 months (7 years), which is why this calculator stops there. A few lenders offer 96–180-month terms, but the interest cost explodes: on $30,000 at 9% APR, interest rises from $10,544 at 84 months to $24,770 at 180 months.
What would a car payment for $28,000 at 6.35% for 60 months be?
A $28,000 car loan at 6.35% APR over 60 months (5 years) comes to $546 a month. Over the full term you would pay $4,753 in interest, for a total of $32,753. That assumes no down payment, sales tax or fees — enter your real tax and fees in the calculator above for an exact figure on your deal.
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