Auto Loan Payment Calculator
Work out the monthly payment for any auto loan. Enter the amount you plan to finance, the annual percentage rate (APR), and the number of monthly installments to see the amortized payment including interest.
CalcSimpler Examples
- $25,000 at 5% APR for 60 months ⇒ $471.78 per month
- $18,000 at 3.5% APR for 48 months ⇒ $402.62 per month
- $32,500 at 6.2% APR for 72 months ⇒ $543.77 per month
FAQ
Is there a down payment?
This formula assumes the loan amount already accounts for any down payment.
Can I enter a zero interest rate?
Yes, the payment becomes principal divided by months.
Does it include taxes or fees?
No, include those in the principal if applicable.
What happens if I choose a longer term?
Extending the term lowers the monthly payment but increases total interest. Try multiple terms to compare costs.
Can I model a 0% financing offer?
Yes. Enter 0 for the interest rate and the calculator divides the loan balance evenly across the term.
Additional Information
- The formula uses the standard amortizing loan equation: Payment = P × r ÷ (1 − (1 + r)⁻ⁿ), where r is the monthly rate.
- APR must be entered as a percentage. For 4.5% APR, type 4.5 (not 0.045).
- Loan terms are expressed in months; multiply the number of years by 12 to convert.
- Making extra principal payments shortens the payoff schedule and reduces total interest paid.
CalcSimpler