Auto Loan Payment Calculator

Enter the amount financed after down payment and trade-in equity. This is the principal used in the payment formula.

Add the annual interest rate offered by the lender and the loan term in months. Common auto terms range from 36 to 72 months.

Review the monthly payment plus total interest over the full term before committing to a longer loan that lowers the payment but raises total cost.

Auto lenders quote payments based on simple amortization over a fixed term. A longer term reduces the monthly obligation but keeps you paying interest on a higher balance for more months, which is why total finance cost often rises even when the rate stays the same.

If you are deciding between dealer financing and a credit union offer, run both rate and term combinations here. A slightly lower APR on a longer term can still cost more overall than a higher APR on a shorter term.

Consider gap between vehicle value and loan balance if you put little money down. This calculator does not model depreciation, but a payment that fits today can still leave you underwater if the car loses value faster than principal declines.

Sales tax, documentation fees, and add-on products may be financed into the amount field. Enter the full figure you expect to borrow so the payment estimate matches the contract rather than the sticker price alone.