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Auto Loan Calculator

Enter the loan amount, annual interest rate, and term in months to find the monthly payment.

How to use

  1. Enter your values in the fields above.
  2. Press Calculate to see your result instantly.
  3. Use the Share button to copy a link to your result.

About this calculator

An auto loan is a standard amortizing installment loan: the lender advances the loan amount, and you repay it in equal monthly installments that blend principal and interest, using the amortization formula M = P x [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. Early payments are weighted more toward interest and later payments more toward principal, even though the payment amount itself stays fixed.

Dealerships, credit unions, and banks all price car loans this way, and the same formula underlies lease-versus-buy comparisons and refinancing decisions. This calculator takes your loan amount, annual interest rate, and term in months and returns the monthly payment, the total interest paid over the life of the loan, and the total cost of the vehicle including financing — letting you compare offers or test how a shorter term or larger down payment changes the numbers.

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