Free Auto Loan Calculator - Calculate Car Payments & Interest
Calculate monthly car loan payments, total interest, and view complete amortization schedule.
Formula & Methodology
Calculates the fixed monthly payment required to fully pay off a car loan over a specific term, factoring in compound interest.
- PMT = (P × r) / (1 - (1 + r)^-n)
Worked Example
Using the Auto Loan Calculator: apply the formula above to your input values. For instance, PMT = (P × r) / (1 - (1 + r)^-n). The tool performs each step instantly and shows the result.
Frequently Asked Questions
How is my auto loan payment calculated?
It combines the amount financed, interest rate and term into a fixed monthly payment using the standard amortization formula.
Should I include tax, title and fees?
Rolling them into the loan increases the amount financed and your payment, so enter the full financed figure for a realistic result.
Does a larger down payment help?
Yes. A bigger down payment lowers the amount financed, reducing both your monthly payment and total interest paid.