Auto Loan Payment Calculator

Buying a car on financing? This calculator applies the standard amortizing loan formula to determine your monthly payment. Enter the loan amount after down payment, the annual percentage rate, and the number of months in the term to see the payment you can budget for.

Total amount financed after subtracting any down payment.
Enter the nominal APR expressed as a percentage.
Number of monthly payments you will make.

Payment is an estimate; consult your lender for exact terms.

Examples

  • $25,000 at 5% for 60 months ⇒ $471.78 per month
  • $18,000 at 3.5% for 48 months ⇒ $402.41 per month
  • $32,500 at 6.2% for 72 months ⇒ $541.69 per month

FAQ

Does the payment include taxes, registration, or add-on products?

No. Add those costs to the principal or budget them separately to reflect your full monthly obligation.

Can I model a zero-interest promotion?

Set the rate to a very small number such as 0.01% to approximate zero-interest, or divide the principal by the months for an exact zero-interest payment.

How does a larger down payment affect the result?

Subtract the down payment from the vehicle price before entering the loan amount so the calculator reflects the smaller balance.

What happens if I make extra payments?

Making additional principal payments shortens the term and reduces total interest, although the scheduled payment shown here stays the same.

Additional Information

  • Monthly payment = P × (r/12) ÷ [1 − (1 + r/12)^(−months)], where r is the annual rate expressed as a decimal.
  • Most auto loans compound interest monthly, which matches the assumptions of this formula.
  • Check your lender's disclosures for fees or payment schedules that could slightly change the amount.

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