Car Payment Calculator
Calculate monthly car payments, total interest, and total cost of your auto loan.
Car Payment Calculator
Calculate monthly car payments, total interest, and total cost of your auto loan.
Monthly Payment
Total Interest
Total Cost
Including down payment and trade-in
Car Buying Tips
- • Aim for 20% down payment to avoid negative equity
- • Keep monthly payment under 15% of gross income
- • Shop around for the best interest rates
- • Consider total cost, not just monthly payment
- • Get pre-approved for financing before shopping
- • Negotiate the price, not the payment
- • Consider certified pre-owned vehicles
- • Factor in insurance, maintenance, and fuel costs
About This Calculator
Estimate monthly auto-loan payment and total cost including down payment and financing terms.
Formula
Monthly payment follows standard amortization using financed amount, monthly rate, and months
Example
Vehicle 30,000, down 5,000, financed 25,000 over 60 months at 7% annual rate.
When to Use
- Comparing financing offers
- Dealer negotiation prep
- Total ownership budgeting
Best Practices
- Compare total loan cost, not only monthly payment
- Evaluate shorter term scenarios
- Include insurance and maintenance in full budget
FAQ
Does bigger down payment help?
Yes. It lowers financed principal and usually reduces monthly payment and total interest.
Should I choose longest term for lower payment?
Lower payment can mean much higher total interest over time.
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