Auto Loan Calculator
Calculate payments over the life of your Loan
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Calculate payments over the life of your Loan
Home Blog Privacy Terms About ContactPlanning to buy a car? Use our free auto loan calculator to estimate your monthly payments, compare loan terms, and understand the true cost of financing before you visit the dealership.
Purchasing a vehicle is one of the largest financial commitments most people make, second only to buying a home. Whether you're shopping for a brand-new sedan with the latest safety features, a reliable used SUV for your growing family, or refinancing an existing auto loan to secure better terms, having a clear understanding of your monthly payment obligations and the total cost of financing is absolutely essential to making a smart financial decision.
Many car buyers focus solely on the monthly payment amount when evaluating financing options, but this narrow focus can lead to costly mistakes. The reality is that a low monthly payment doesn't always mean you're getting a good deal. In fact, dealers often use this psychological trick to their advantage by extending loan terms to lower monthly payments while dramatically increasing the total interest you'll pay over the life of the loan. This is where our free auto loan calculator becomes an invaluable tool in your car-buying arsenal.
Our calculator provides complete transparency by showing you three critical pieces of information: your estimated monthly payment, the total amount you'll pay over the entire loan period, and the total interest charges. This comprehensive view allows you to compare different financing scenarios side-by-side and choose the option that best fits your budget while minimizing unnecessary interest expenses. Armed with this knowledge, you'll walk into the dealership or bank with confidence, knowing exactly what you can afford and what terms make sense for your financial situation.
Our calculator uses standard amortization formulas used by banks and credit unions. Simply enter your loan details, and we'll show you exactly what to expect—no hidden surprises.
Input the total price of the vehicle minus your down payment. For example, if the car costs $30,000 and you're putting down $5,000, enter $25,000.
Enter the Annual Percentage Rate (APR) offered by your lender. In 2025, typical rates range from 5% to 12% depending on your credit score and loan term.
Select how many years you want to repay the loan. Common terms are 3, 4, 5, or 6 years. Shorter terms mean higher monthly payments but less total interest.
Disclaimer: The results provided by this Auto Loan Calculator are estimates for informational and educational purposes only. They do not constitute financial advice or a loan offer. Actual loan terms, monthly payments, and interest rates may vary based on your lender's policies, your creditworthiness, and additional fees. Always verify rates and terms directly with your bank, credit union, or financial institution before making any financing decisions.
Now see what real lenders can offer you. Get personalized rates from multiple lenders in minutes—no impact on your credit score.
Get My Personalized Rates NowWe've designed this tool with transparency, accuracy, and ease-of-use in mind. Here's what makes our calculator the best choice for car buyers.
Uses the same amortization calculations that banks and credit unions use to determine your actual payments.
All calculations happen in your browser. We don't collect, store, or share any of your financial information.
Works perfectly on smartphones, tablets, and desktops. Calculate your loan anywhere, anytime.
Run as many calculations as you need to find the perfect loan terms for your budget. No limits, no fees.
Auto loan interest rates vary significantly based on several factors. In 2025, the average new car loan rate ranges from 5.5% to 7.5%, while used car loans typically range from 6.5% to 10% or higher depending on the age and condition of the vehicle. Understanding what affects your rate can help you negotiate better terms and potentially save thousands of dollars over the life of your loan.
Beware of "yo-yo financing" where dealers approve you, then call days later saying they need a higher rate. Always get final approval in writing and avoid signing conditional financing agreements.
Choosing the right loan term is crucial. A longer term means lower monthly payments but significantly more interest paid over time. Use this comparison to understand the trade-offs.
| Loan Term | Monthly Payment | Total Interest Paid | Best For |
|---|---|---|---|
| 36 months (3 years) | $766 | $2,576 | Lowest total cost, fastest payoff |
| 48 months (4 years) | $596 | $3,608 | Good balance of payment & cost |
| 60 months (5 years) | $489 | $4,542 | Most popular, manageable payment |
| 72 months (6 years) | $418 | $5,496 | Lowest monthly, highest total cost |
💡 Key Insight: Extending your loan from 3 to 6 years cuts your monthly payment nearly in half but more than doubles your total interest cost ($2,576 vs. $5,496). Always choose the shortest term you can comfortably afford.
"This calculator helped me understand how much interest I was really paying. Now I’m saving nearly $1,200 over the loan term!"
"Super easy to use and totally free. I used it on my phone while talking to my dealer and avoided a bad deal!"
"Clean design, instant results, and no annoying ads. This site is my go-to for comparing auto loans."
Stay informed with expert advice, industry insights, and practical tips to help you make smarter car financing decisions.
Yes! It’s completely free. You can use it as often as you want without sign-ups or hidden costs.
The calculator uses standard amortization math. It’s reliable for estimates, but always confirm with your lender for precise figures.
No. Taxes, registration, and insurance vary by region, so they’re excluded from calculations.
No. Everything happens locally in your browser. We don’t collect or share any personal data.
This Auto Loan Calculator was created by Our Team, a team of financial analysts and consumer advocates dedicated to empowering car buyers. We were frustrated by the lack of transparent, easy-to-use tools available to the public, so we built our own.
Our goal is to provide you with bank-level accurate estimates so you can walk into any dealership with the confidence and knowledge needed to secure a fair deal. All our content and advice is reviewed by our lead financial analyst, **[Insert a Real or Plausible Name, e.g., John Carter]**, to ensure it is current and actionable.
Learn more about our team and methodology here.
To keep our tools and guides 100% free for everyone, we partner with services like Google AdSense to display relevant advertisements. We may also receive a small commission if you choose to explore offers from partners we trust. This model allows us to operate independently while keeping our focus on providing unbiased, user-first information.
