Car Payment Calculator
Estimate auto loan payments with price, down payment, trade-in, taxes and fees. Compare monthly vs biweekly, add extra payments, and export amortization schedules.
Auto Loan Payment & Total Cost Estimator
Calculate financed amount, monthly payment, total interest, payoff date, and compare payment strategies.
Calculate the financing payment and the full car budget
A car payment estimate begins with the financed principal: vehicle price plus financed taxes and fees, less the down payment and any trade-in amount credited toward the purchase. For a standard fixed-rate installment loan, the monthly payment is determined by the monthly interest rate and number of payments, not by the sticker price alone. A lower payment can result from a longer loan term even when the total interest paid rises.
As a simple example, financing $20,000 for 60 months at a fixed 6% annual nominal rate yields a payment of approximately $386.66 per month before any additional fees. That estimate assumes payments are due monthly at equal intervals and the rate is applied to the remaining balance. An advertised APR may incorporate charges that a simple interest-rate field does not, so compare lender disclosures rather than treating the calculator payment as a binding quote.
Ownership costs extend beyond the installment. Insurance, fuel or electricity, registration, maintenance, depreciation, and parking can materially change whether a vehicle is affordable. A useful comparison keeps the same loan term and down payment when testing competing prices, then examines total interest and the total cost of ownership rather than choosing purely on the smallest monthly amount.