Quick Car Payment Calculator
Estimate your monthly car loan payment, total payments and interest with just your loan amount, rate and term.
Payment estimate
Enter the amount borrowed, rate and a valid term to see your estimate.
Assumes a fixed rate and equal monthly payments. Totals use unrounded payment calculations; a lender’s final payment may differ. Down payment and costs paid separately are excluded. This is an estimate, not a loan offer or approval.
Have a full dealer quote?
Use the advanced calculator to work out the amount financed, include a trade-in, and check quoted totals and payments.
Open Advanced Deal Checker →What goes into a car payment?
Your payment depends on the amount borrowed, the interest rate and the number of monthly payments. For example, borrowing $20,000 at a 6% annual interest rate for 60 months gives a payment of about $386.66 a month, with about $3,199.36 in total interest.
The amount borrowed is different from the vehicle’s advertised price. Financed taxes, fees and selected add-ons increase it; your down payment and positive trade equity reduce it. Negative trade equity can increase the new loan. If you haven’t worked out that amount, use the Advanced Deal Checker.
APR and the contractual interest rate can differ because APR accounts for certain borrowing fees. This quick calculator uses the annual loan interest rate; use Advanced Deal Checker if you only have APR. Learn more in our guide to APR, interest rates and loan terms.
A monthly payment is only part of owning a car. Compare insurance, fuel, repairs, maintenance and depreciation with our ownership cost calculator.
Car loan calculator questions
Should I enter the car price or the amount financed?
Enter the amount financed. A $25,000 vehicle with $2,000 in financed taxes and fees and a $5,000 cash down payment leaves $22,000 to borrow, assuming no trade-in or other charges. This quick calculator does not estimate taxes or subtract your down payment for you.
How do 60-, 72- and 84-month car loans compare?
Keep the amount borrowed and rate the same, then change the term to compare payment and total interest. At a positive fixed rate, spreading the same loan over more months lowers the monthly payment but increases total interest. A lower payment alone does not make the loan cheaper.
Can I calculate a used-car payment or a 0% loan?
Yes. The same calculation works for a new or used vehicle when you enter the actual loan amount and offered rate. Enter 0 for a quoted 0% rate; total interest is then $0 under these assumptions. Eligibility for an advertised financing offer is separate from the calculation.
Why might the lender’s payment differ?
An APR that includes fees, a different amount financed, payment timing, daily interest, or contract rounding can change the result. Compare your lender’s disclosures with your entries. This tool does not model balloon payments, variable rates, leases or extra principal payments.
Source: CFPB guidance on comparing auto loan offers. Examples are fictional calculations, not current financing offers.
Car payment and financing guides
- Car loan APR vs. interest rate and loan length — compare monthly payments with total borrowing costs.
- How to read a dealer quote — find the out-the-door price and amount financed.
- Trading in a car you still owe money on — understand how trade equity changes your next loan.
- Dealer add-ons explained — check how financed products affect your payment.
- 60 vs. 72 vs. 84-month car loans — compare payment savings against additional interest.
- Out-the-door price vs. amount financed — work out which amount belongs in your payment estimate.