Auto Loan Calculator
Estimate your monthly car payment, including down payment and trade-in value.
Your details
Monthly car payment
$601.14
- Principal$30,000
- Total interest$6,068
- Amount financed
- $30,000
- Total interest
- $6,068
- Total cost
- $36,068
- Term
- 5 years
Payment schedule
How your balance falls year by year.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $5,138 | $2,076 | $24,862 |
| 2 | $5,537 | $1,677 | $19,325 |
| 3 | $5,967 | $1,247 | $13,359 |
| 4 | $6,430 | $784 | $6,929 |
| 5 | $6,929 | $285 | $0 |
About the auto loan calculator
Enter the vehicle price, your down payment and any trade-in value to see what you'll finance and what you'll pay each month. The amount financed is the price minus your down payment and trade-in.
Putting more money down up front, or trading in a vehicle, reduces the loan and your monthly payment. Dealer financing isn't always the cheapest, so it's worth comparing a pre-approved rate from a bank or credit union first.
Frequently asked questions
How much should I put down on a car?+
Aim for at least 10 to 20% on a used car and 20% on a new one. A bigger down payment lowers your payment and helps avoid owing more than the car is worth.
Is dealer financing or a bank loan better?+
Compare both. Getting pre-approved by a bank or credit union gives you a benchmark rate and negotiating power at the dealership.