Auto Loan Calculator
Compute the monthly payment, total cost and overpayment of an auto loan from price, down payment, interest rate and term.
How to Use the Auto Loan Calculator
- Enter the car price.
- Enter down payment.
- Enter annual interest rate.
- Enter term in months.
- Click Calculate.
Use Cases
- •Comparing dealer offers.
- •Budgeting car purchase.
- •Teaching amortisation.
Formula
Standard amortising loan: M = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1), where r = monthly rate and n = months.
Frequently Asked Questions
Does this include taxes or fees?
No — enter the financed amount (price minus down payment). Fold taxes and fees into the price if they are rolled into the loan.
Variable-rate loans?
This assumes a fixed rate. For variable loans, pick a weighted-average representative rate.