Calculate car loan payments and explore interest costs. Empower your purchase and unlock savings with our accurate, easy-to-use auto finance tool.
You’re one step away from smarter car financing.
For best results, try out multiple scenarios to find the financing strategy that best fits your budget and long-term goals.
A car loan enables you to finance a vehicle purchase by borrowing money and repaying it over time with interest. This calculator helps you:
We use the standard fixed-rate loan formula:
Monthly Payment = [P × r × (1 + r)^n] / [(1 + r)^n - 1]Where:
Each payment consists of a principal and interest portion. Over time, the interest portion decreases while the principal share grows.
Start calculating now to uncover the smartest way to finance your next vehicle—get clarity and confidence in minutes!
| Payment # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $370.00 | $245.00 | $125.00 | $24,755.00 |
| 2 | $370.00 | $247.10 | $122.90 | $24,507.90 |
| 3 | $370.00 | $249.23 | $120.77 | $24,258.67 |
| Loan Term | Monthly Payment | Total Interest | Total Paid |
|---|---|---|---|
| 6 Years (72 months) | $370.00 | $1,640.00 | $26,640.00 |
| With $50 Extra/Month | $420.00 | $1,020.00 | $26,020.00 |
| 0% Interest | $347.22 | $0.00 | $25,000.00 |
| Large Down Payment | $0.00 | $0.00 | $0.00 |