Auto Loan Calculator

🚗 Auto Loan Calculator

Calculate monthly payments for your car loan

Vehicle Price ($)

Down Payment ($)

Down Payment (%)

Interest Rate (%)

Loan Term (Years)

Trade-in Value ($)

Sales Tax (%)

Additional Fees ($)

Credit Score

PMT = (P × r × (1 + r)ⁿ) / ((1 + r)ⁿ - 1)

📊 Loan Results

Monthly payment and total cost breakdown

Enter vehicle details and click calculate to see results

Auto Loan Guide

Understanding car financing, interest rates, and smart buying decisions

Auto loans are secured loans where the vehicle serves as collateral, typically offering lower interest rates than unsecured loans. Your credit score, down payment, loan term, and the vehicle's age all affect your interest rate and monthly payment. Understanding these factors helps you make informed decisions and save money.

Down Payment

Larger down payments reduce monthly payments and total interest paid over the loan term

Loan Term

Shorter terms mean higher monthly payments but less total interest paid

Credit Score Impact

Higher credit scores qualify for better interest rates and loan terms

Total Cost

Consider insurance, maintenance, fuel, and depreciation beyond loan payments

The 20/4/10 rule suggests putting down 20%, financing for no more than 4 years, and keeping total monthly vehicle expenses under 10% of gross income. Our calculator helps you evaluate different scenarios to find the best option for your budget and financial goals.