Auto Loan Calculator
$0.00
Monthly Payment
Loan Amount$0
Total Interest$0
Total Cost$0
Get Your Results Emailed
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How to Use
Enter the vehicle price, your down payment, the interest rate, and loan term. The calculator shows your monthly payment, total interest, and total cost of the vehicle after financing.
Compare different down payment amounts and loan terms to find the best balance between affordable monthly payments and total interest cost.
Auto Loan Formula
M = P × [r(1+r)^n] / [(1+r)^n - 1]
Where M = monthly payment, P = loan amount, r = monthly interest rate, n = total months.
Frequently Asked Questions
Rates vary by credit score. Excellent credit (740+) can get 4-6%, good credit (680-739) 6-9%, and fair credit (620-679) 9-14% on new cars.
A down payment of 20% is recommended to avoid being upside down on your loan. Even 10% can make a significant difference in your monthly payment.