Car Loan Calculator
Calculate car loan payments and total cost. Estimate auto loan costs, interest, and affordability with our free car loan calculator.
Our comprehensive Car Loan Calculator helps you estimate monthly payments, understand total costs, and determine how much car you can afford. Whether you're buying new or used, this tool provides accurate calculations for your auto loan financing, including down payments, trade-in values, and interest costs over the life of your loan.
Enter car loan details to see your payment breakdown
Understanding Car Loans
Car loans are installment loans that help you purchase a vehicle by spreading the cost over time. Understanding how car loan payments work, including interest rates, loan terms, and down payments, can help you make better financing decisions and save money over the life of your loan.
Key Components
- • Principal amount (loan balance)
- • Interest rate (annual percentage)
- • Loan term (duration in months)
- • Down payment and trade-in value
Money-Saving Tips
- • Make larger down payments
- • Choose shorter loan terms
- • Negotiate better interest rates
- • Consider pre-approval options
Monthly Payment: M = P[r(1+r)^n]/[(1+r)^n-1]
Where P = principal, r = monthly interest rate, n = number of months