Auto Loan Calculator
Calculate your monthly car payment, total interest, and full loan breakdown.
Auto Loan Calculator
Calculate your monthly car payment and total loan cost. Includes trade-in value, sales tax, and a first-year amortization preview.
📋Loan Details
Sticker price before tax & fees
14.3% of vehicle price
Applied like a second down payment
US avg ~6%. Varies by state.
Average new-car APR ~6–8%
💵Your Monthly Payment
📊Principal vs. Interest Breakdown
📅First-Year Amortization Schedule (Month 1–12)
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $592.62 | $420.12 | $172.50 | $29,579.88 |
| 2 | $592.62 | $422.54 | $170.08 | $29,157.34 |
| 3 | $592.62 | $424.97 | $167.65 | $28,732.37 |
| 4 | $592.62 | $427.41 | $165.21 | $28,304.96 |
| 5 | $592.62 | $429.87 | $162.75 | $27,875.10 |
| 6 | $592.62 | $432.34 | $160.28 | $27,442.76 |
| 7 | $592.62 | $434.83 | $157.80 | $27,007.93 |
| 8 | $592.62 | $437.33 | $155.30 | $26,570.60 |
| 9 | $592.62 | $439.84 | $152.78 | $26,130.76 |
| 10 | $592.62 | $442.37 | $150.25 | $25,688.39 |
| 11 | $592.62 | $444.91 | $147.71 | $25,243.48 |
| 12 | $592.62 | $447.47 | $145.15 | $24,796.01 |
Showing first 12 of 60 months · Total loan paid off after 60 payments
ℹ️How Auto Loan Payments Work
Your monthly auto loan payment is calculated using the standard amortization formula. Each payment covers the interest charged on the remaining balance, plus a portion of the principal. Early payments are interest-heavy; later payments go mostly toward principal.
APR vs. interest rate: APR (Annual Percentage Rate) includes fees and is the true cost of borrowing. Always compare APR, not just the stated interest rate.
Down payment strategy: A larger down payment reduces your loan amount, monthly payment, and total interest paid. Aim for 20% on a new car or 10% on used.
Loan term trade-off: Shorter terms mean higher monthly payments but far less interest paid. A 36-month loan vs. 72-month on the same amount can save thousands in interest.