Auto Loan Calculator
Estimate your monthly car payment and total interest cost.
This tool provides estimates for informational purposes only and is not a loan offer or financial advice. Actual loan terms depend on your lender and creditworthiness.
| Loan amount | Monthly payment |
|---|---|
| $15,000 | $290/mo |
| $20,000 | $387/mo |
| $25,000 | $483/mo |
| $30,000 | $580/mo |
| $35,000 | $677/mo |
| $40,000 | $773/mo |
Frequently asked questions
How is the monthly payment calculated?
We use the standard loan amortization formula, based on your loan amount (vehicle price minus down payment and trade-in), interest rate, and loan term, assuming equal monthly payments over the full term.
Does trade-in value reduce my loan amount?
Yes — your trade-in value is subtracted from the vehicle price along with your down payment, reducing the amount you actually need to finance.
What interest rate should I use?
Use the APR (annual percentage rate) offered by your lender or dealership. Rates vary based on credit score, loan term, and lender, so it's worth comparing offers.
Does this include taxes, fees, or insurance?
No — this calculator estimates principal and interest only. Sales tax, registration fees, and insurance are typically additional costs not reflected here.
What's the monthly payment on a $30,000 car loan?
At 6% APR over 60 months, a $30,000 auto loan comes to about $580/month in principal and interest (see chart above). Your own rate and term will change this — use the calculator to plug in your numbers.
How much is a car payment on a $20,000 loan?
At 6% APR over 60 months, a $20,000 auto loan works out to about $387/month. Shorter terms mean higher payments but less total interest; longer terms lower the payment but cost more overall.
Does a longer loan term always cost more in interest?
Yes — stretching payments over more months lowers your monthly payment but increases the total interest you pay, since you're borrowing the same amount for longer at the same rate.
About this tool
This calculator estimates your monthly auto loan payment using the standard loan amortization formula. Enter the vehicle price, down payment, trade-in value, interest rate, and loan term to see your estimated payment and total interest cost.