Auto Loan Calculator
Use this auto loan calculator to estimate your monthly car payment and total interest. Enter the loan amount (e.g. car price minus down payment), term, and APR—then compare the payment to your take-home pay to see if it fits your budget.
How to use this auto loan calculator
Enter the loan amount (price minus down payment and trade-in), loan term in months (e.g. 60 for 5 years), and the APR from your lender or quote. The calculator shows your monthly payment and total interest over the life of the loan. Run it at different terms and rates to compare—shorter terms mean higher payments but less interest.
Why use an auto loan calculator with your paycheck?
An auto loan calculator shows whether a car payment fits your budget. After you know your take-home pay from our paycheck calculator, use this tool to see the monthly payment at different loan amounts and terms. Keeping car costs (payment, insurance, fuel) to about 10–15% of take-home is a common guideline. You can also check your DTI (debt-to-income) with our DTI calculator since lenders use it for approval.
When to use an auto loan calculator
Use a car payment calculator before you shop so you know the loan amount and monthly payment you can afford. Run it again with dealer or bank quotes to compare APRs and terms—a lower rate or shorter term can save thousands in interest. If you’re refinancing, plug in your current balance and remaining term to see what a new rate would do to your payment. Pair it with our budget calculator to ensure the payment fits your 50-30-20 or other plan.
Tips for car loans and affordability
Get rate quotes from banks and credit unions before visiting the dealer; dealer financing can be convenient but compare. A larger down payment reduces the loan amount and often gets you a better rate. Shorter terms (e.g. 48 or 60 months) mean less total interest than 72 or 84 months. Use this auto loan calculator to see the interest difference. Don’t forget to budget for insurance, fuel, and maintenance—total cost of ownership is more than the payment. Check your DTI with our DTI calculator so you’re in a good range for approval.