Car Loan Calculator
Estimate your monthly car payments and total interest
Enter Loan Details
Fill in the details about your car loan to calculate your monthly payments
$30,000
$
$5,000$100,000
$5,000
$
$0$15,000
60 months (5 years)
12 mo36 mo60 mo84 mo
4.5%
%
0%5%10%15%20%
Loan Summary
Based on the information you provided
Monthly Payment
$466.08
Car Price$30,000
Down Payment- $5,000
Loan Amount$25,000
Loan Term60 months (5 years)
Interest Rate4.5%
Monthly Payment$466.08
Total of 60 Payments$27,965
Total Interest$2,965
Did you know?
A shorter loan term will increase your monthly payment but save you money on interest in the long run. Consider a 36-month loan to save approximately $889 in interest.
About This Calculator
This car loan calculator helps you estimate your monthly car payments based on the purchase price, down payment, loan term, and interest rate. It also calculates the total amount you'll pay over the life of the loan and how much of that will go toward interest.
Keep in mind that this is an estimate, and actual loan terms may vary based on your credit score, the lender, and other factors. For a more accurate assessment, contact your bank or credit union.
Tips for Getting the Best Auto Loan
- Check your credit score before applying for a loan
- Shop around and compare rates from multiple lenders
- Consider getting pre-approved before visiting a dealership
- Make a larger down payment to reduce your loan amount and monthly payments
- Choose a shorter loan term to save on interest, if you can afford the higher monthly payments