Car Loan Calculator
Estimate your monthly car payment from price, down payment, APR and loan term. Free, instant, no signup.
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About the Car Loan Calculator
Estimate your monthly car payment before you visit the dealership. Enter the vehicle price, your down payment, the interest rate (APR) the lender offers, and the loan term in months — the calculator uses the standard amortization formula to show your estimated monthly payment, total amount paid, and total interest over the life of the loan. Free, works on mobile, no signup required.
How to use it
- Enter the vehicle price and your down payment.
- Enter the APR your lender or dealer quoted you.
- Enter the loan term in months (36, 48, 60 or 72 are common).
- Press Calculate to see your estimated monthly payment instantly.
Frequently asked questions
How is a car loan payment calculated?
Monthly payment = P × [i(1+i)^n] / [(1+i)^n − 1], where P is the amount financed (price minus down payment), i is the monthly interest rate (APR ÷ 12), and n is the number of months.
What's a good APR for a car loan in 2026?
It depends on your credit score, the loan term, and whether the car is new or used. Compare offers from your bank, credit union and the dealership — don't just accept the first rate offered.
Does a bigger down payment lower my monthly payment?
Yes. A larger down payment reduces the amount you finance, lowering both your monthly payment and the total interest you'll pay.
Is this calculator accurate?
It gives a close estimate using the standard amortization formula. Your actual payment may vary slightly with taxes, fees and your lender's exact terms.
Should I choose a longer loan term?
A longer term lowers your monthly payment but increases total interest paid over time. A shorter term costs more per month but saves money overall — try both terms above to compare.
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