Auto Loan Calculator
Auto Loan Calculator
Estimate your monthly car payment. Enter the loan amount, term in years, and annual interest rate to see your payment and total costs.
How It Works
Monthly Payment = P × [r(1+r)^n] ÷ [(1+r)^n − 1], where P = loan amount, r = monthly rate, n = months.
About This Calculator
What It Does
Estimate your monthly car payment including interest. See total interest paid over the life of the loan and total repayment amount.
Worked Example
A $30,000 car loan over 5 years at 6%: monthly payment ≈ $579.98. Total interest ≈ $4,799. Total repayment ≈ $34,799.
Real-World Usage
Use before visiting a dealership to know what you can afford. Compare financing offers. See how a larger down payment reduces your monthly cost.
Local Context
US auto loans: 3-7 years typical, rates 4-12% depending on credit. EU: 3-5 years, rates 2-8%. Canada: similar to US, rates 5-9%. Dealer financing vs bank loans differ by country.
Last reviewed: March 2026.
This is an estimate only. Actual rates and terms depend on credit score, lender, and vehicle type.