Calculate your monthly auto loan payment, total cost, and full amortization schedule — including taxes, fees, trade-in, and incentives.
Estimate your monthly car payment with our free auto loan calculator. Enter your vehicle price, down payment, loan term, and interest rate to see exactly what you'll pay each month, and over the life of the loan.
Auto loans use the same standard amortization formula as other fixed-rate loans: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
Where P is calculated as: Vehicle Price − Down Payment − Trade-in Value (if applicable).
A common recommendation is 10-20% down for a new car, and 20% or more for a used car, though this varies based on your budget and loan terms.
Yes, significantly. Higher credit scores typically qualify for lower interest rates, which can save substantial money over the life of the loan.
Longer terms reduce monthly payments but increase total interest paid and can lead to being "upside down" on the loan for longer.
This calculator estimates payment based on the loan principal you enter. Sales tax, registration, and dealer fees should be added to your vehicle price if financed.