Car Payment Calculator
The monthly payment on a price, a down payment, a rate and a term — the quick answer, without tax, fees or a trade-in in the way.
The address carries whatever you changed, so anyone opening it sees these numbers. Nothing is saved on our side.
Estimated monthly payment
$533/mo
Borrowing $27,000 over 60 months at 6.9%. Tax and fees are not included here — the Car Loan Calculator adds them, along with a trade-in.
- $27,000
- $5,002
- $32,002
- 18.5%
- Of what you borrowed
What the term costs
Stretching the loan lowers the payment and raises the total. The monthly saving is visible immediately; the extra interest is not.
| Term | Monthly | Total interest | vs yours |
|---|---|---|---|
| 36 months | $832 | −$2,033 less in total | |
| 48 months | $645 | −$1,027 less in total | |
| 60 monthsyours | $533 | — | |
| 72 months | $459 | +$1,048 more in total | |
| 84 months | $406 | +$2,118 more in total |
What the rate costs
A point either way on a car loan is worth less than on a mortgage, because the balance is smaller and the term is shorter — but it is not nothing.
| Rate | Monthly | Total interest | vs yours |
|---|---|---|---|
| 4.9% | $508 | −$1,504 less in total | |
| 5.9% | $521 | −$758 less in total | |
| 6.9%yours | $533 | — | |
| 7.9% | $546 | +$769 more in total | |
| 8.9% | $559 | +$1,548 more in total |
How this calculator works
One formula, the same one behind every fixed instalment loan.
M = L · r ÷ (1 − (1 + r)−n)
- L
- price less the down payment
- r
- the annual rate divided by twelve
- n
- the number of monthly payments
At a rate of zero the formula is undefined and the loan is simply repaid in equal instalments, so M = L ÷ n.
When to use the other one
This page answers “what is the payment on this car” in four fields. The Car Loan Calculator answers “what will I actually sign”: sales tax, dealer fees, a rebate, and a trade-in you may still owe money on. Use this one to compare cars; use that one before you agree to anything.
Questions people ask
Almost always sales tax and fees, which this calculator leaves out on purpose so the loan itself is visible. On a $32,000 car those can add well over $2,000, and they are usually financed rather than paid in cash. The Car Loan Calculator includes them, along with a trade-in.
The price, always. A payment can be brought down to almost any figure by extending the term, which costs you more while feeling like a win. Agree the out-the-door price first, then discuss financing as a separate conversation.
Yes, and immediately — it reduces the balance every month of interest is charged on. It also protects you from being underwater early in the loan, which is when depreciation is fastest. It does not, however, change your rate.
Not necessarily. Promotional financing is often offered instead of a cash rebate rather than alongside it, so the real comparison is the interest you save against the rebate you gave up. On a shorter loan the rebate frequently wins.
Related calculators
An estimate of the loan payment only. It excludes sales tax, dealer fees, insurance and running costs.