Auto Loan Calculator
Calculate monthly car payments, total interest, and total cost for any auto loan.
Auto Loan Calculator
Calculate monthly car payments, total interest, and total cost for any auto loan.
Loan Payment Formula
ℹ️ Total interest paid = (M × n) – P
Disclaimer
Results provided by this calculator are for informational and educational purposes only. They are based on the values you enter and standard formulas, and should not be considered financial, medical, legal, or professional advice. Always consult a qualified professional before making important decisions based on these results. Roughtools makes no warranties regarding the accuracy or completeness of these calculations for your specific situation.
Frequently Asked Questions
Pro Tips
Even a 0.5% lower interest rate saves thousands over the life of a loan. Shop at least 3 lenders and get pre-approval before committing — lenders compete on rate when they know you have options.
Making one extra payment per year directly toward principal can shorten a 30-year mortgage by 4–6 years and save over $30,000 in interest on a typical home loan.
Your Annual Percentage Rate (APR) includes fees the interest rate does not — always compare APR, not just rate, when evaluating lender offers.
Bi-weekly payments (half the monthly amount every 2 weeks) result in 26 half-payments per year — equivalent to 13 full monthly payments instead of 12, accelerating payoff.
When to Use This Calculator
Compare dealer financing vs. bank pre-approval to find the lowest monthly payment and total cost before you sign.
Estimate monthly payments before taking out student loans to ensure they fit within your future income budget.
Calculate the cost of a business loan before applying — know your break-even point before borrowing.
Enter identical principal and term with different rates to instantly compare the true cost of competing offers.
See if consolidating multiple debts into a single lower-rate loan reduces your total monthly payment and interest.
About the Auto Loan Calculator
This auto loan calculator computes your exact monthly car payment using the standard amortization formula. Enter the vehicle price, down payment, interest rate, and loan term to see total interest paid and a full payment breakdown. Built for car buyers comparing dealer financing vs. bank loans — runs entirely in your browser.
How to Use the Auto Loan Calculator
- 1
Enter the vehicle price (sticker price or negotiated price in $).
- 2
Enter your down payment amount in dollars.
- 3
Enter the annual interest rate offered by your lender (%).
- 4
Set the loan term — 24, 36, 48, 60, or 72 months is typical.
- 5
Your monthly payment, total cost, and interest appear instantly.
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