Auto Loan
Estimate monthly payments and total interest on a car loan.
About Auto Loan
The loan amount is the price minus the down payment and trade-in value, then repaid with interest over the term. A larger down payment or shorter term reduces both the payment and total interest. Car loans are a major household cost, and overlapping interest means negotiating both price and rate matters.
Formula
Auto Loan
Financed = price - down - trade; payment uses the amortization formula
- financed
- amount actually borrowed after down payment and trade-in
Worked example
With the default values below, Auto Loan returns Monthly Payment of $375.08. Change any input above and every figure here is recalculated in your browser.
Inputs used
- Car price
- 30,000
- Down payment
- 5,000
- Trade-in value
- 3,000
- Annual rateaccepts 0–100 %
- 7 %
- Yearsminimum 1
- 6
Results
- Loan Amount
- $22,000.00
- Monthly Payment
- $375.08
- Total Interest
- $5,005.63
Step by step
- 1Values used
- 2Auto Loan
- 3Monthly Payment= 375.08
- 4Loan Amount= 22,000.00
- 5Total Interest= 5,005.63
Assumptions and limits
- The result is derived only from the 5 inputs listed above. Anything not among them is not part of the calculation.
- In particular, this calculator does not take inflation, tax or fees or charges into account.
- Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
- This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.
How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.
Frequently Asked Questions
How is Auto Loan calculated?
Financed = price - down - trade; payment uses the amortization formula The loan amount is the price minus the down payment and trade-in value, then repaid with interest over the term. A larger down payment or shorter term reduces both the payment and total interest.
Why does Auto Loan matter?
Car loans are a major household cost, and overlapping interest means negotiating both price and rate matters.
What values do I need to enter?
This calculator takes 5 inputs: Car price, Down payment, Trade-in value, Annual rate, Years. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.