Car loan calculator
Enter the price, deposit and rate. Everything is calculated in your browser, including the full month-by-month schedule.
Monthly payment on $27,000 over 60 months
$533.36
$5,002 total interest · $32,002 paid overall
- Amount financed
- $27,000
- after deposit and trade-in
- Total interest
- $5,002
- 18.5% of the loan
- Total repaid
- $32,002
- over 60 months
- Trade-in equity
- $0
- reduces the amount financed
›Trade-in, tax and fees
›Amortisation schedule — all 60 payments
| # | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $533.36 | $155.25 | $378.11 | $26,622 |
| 2 | $533.36 | $153.08 | $380.28 | $26,242 |
| 3 | $533.36 | $150.89 | $382.47 | $25,859 |
| 4 | $533.36 | $148.69 | $384.67 | $25,474 |
| 5 | $533.36 | $146.48 | $386.88 | $25,088 |
| 6 | $533.36 | $144.25 | $389.11 | $24,698 |
| 7 | $533.36 | $142.02 | $391.34 | $24,307 |
| 8 | $533.36 | $139.77 | $393.59 | $23,914 |
| 9 | $533.36 | $137.50 | $395.86 | $23,518 |
| 10 | $533.36 | $135.23 | $398.13 | $23,120 |
| 11 | $533.36 | $132.94 | $400.42 | $22,719 |
| 12 | $533.36 | $130.64 | $402.72 | $22,316 |
| 13 | $533.36 | $128.32 | $405.04 | $21,911 |
| 14 | $533.36 | $125.99 | $407.37 | $21,504 |
| 15 | $533.36 | $123.65 | $409.71 | $21,094 |
| 16 | $533.36 | $121.29 | $412.07 | $20,682 |
| 17 | $533.36 | $118.92 | $414.44 | $20,268 |
| 18 | $533.36 | $116.54 | $416.82 | $19,851 |
| 19 | $533.36 | $114.14 | $419.22 | $19,432 |
| 20 | $533.36 | $111.73 | $421.63 | $19,010 |
| 21 | $533.36 | $109.31 | $424.05 | $18,586 |
| 22 | $533.36 | $106.87 | $426.49 | $18,160 |
| 23 | $533.36 | $104.42 | $428.94 | $17,731 |
| 24 | $533.36 | $101.95 | $431.41 | $17,299 |
| 25 | $533.36 | $99.47 | $433.89 | $16,865 |
| 26 | $533.36 | $96.98 | $436.38 | $16,429 |
| 27 | $533.36 | $94.47 | $438.89 | $15,990 |
| 28 | $533.36 | $91.94 | $441.42 | $15,549 |
| 29 | $533.36 | $89.40 | $443.95 | $15,105 |
| 30 | $533.36 | $86.85 | $446.51 | $14,658 |
| 31 | $533.36 | $84.28 | $449.07 | $14,209 |
| 32 | $533.36 | $81.70 | $451.66 | $13,757 |
| 33 | $533.36 | $79.11 | $454.25 | $13,303 |
| 34 | $533.36 | $76.49 | $456.87 | $12,846 |
| 35 | $533.36 | $73.87 | $459.49 | $12,387 |
| 36 | $533.36 | $71.22 | $462.14 | $11,925 |
| 37 | $533.36 | $68.57 | $464.79 | $11,460 |
| 38 | $533.36 | $65.89 | $467.46 | $10,992 |
| 39 | $533.36 | $63.21 | $470.15 | $10,522 |
| 40 | $533.36 | $60.50 | $472.86 | $10,049 |
| 41 | $533.36 | $57.78 | $475.58 | $9,574 |
| 42 | $533.36 | $55.05 | $478.31 | $9,096 |
| 43 | $533.36 | $52.30 | $481.06 | $8,614 |
| 44 | $533.36 | $49.53 | $483.83 | $8,131 |
| 45 | $533.36 | $46.75 | $486.61 | $7,644 |
| 46 | $533.36 | $43.95 | $489.41 | $7,155 |
| 47 | $533.36 | $41.14 | $492.22 | $6,662 |
| 48 | $533.36 | $38.31 | $495.05 | $6,167 |
| 49 | $533.36 | $35.46 | $497.90 | $5,669 |
| 50 | $533.36 | $32.60 | $500.76 | $5,169 |
| 51 | $533.36 | $29.72 | $503.64 | $4,665 |
| 52 | $533.36 | $26.82 | $506.54 | $4,159 |
| 53 | $533.36 | $23.91 | $509.45 | $3,649 |
| 54 | $533.36 | $20.98 | $512.38 | $3,137 |
| 55 | $533.36 | $18.04 | $515.32 | $2,621 |
| 56 | $533.36 | $15.07 | $518.29 | $2,103 |
| 57 | $533.36 | $12.09 | $521.27 | $1,582 |
| 58 | $533.36 | $9.10 | $524.26 | $1,058 |
| 59 | $533.36 | $6.08 | $527.28 | $530 |
| 60 | $533.36 | $3.05 | $530.31 | $0 |
Questions
›How is a car loan payment calculated?
The standard annuity formula: payment = principal x r / (1 - (1 + r)^-n), where r is the monthly rate (APR divided by 12) and n is the term in months. Interest is charged on the outstanding balance each month, so early payments are mostly interest and later ones mostly principal.
›Does a longer term make a car cheaper?
It lowers the monthly payment and raises the total cost. Stretching $30,000 at 6.9% from 60 to 84 months cuts the payment by roughly $100 but adds over $2,000 in interest, and leaves you in negative equity for far longer.
›What is negative equity on a trade-in?
Owing more on your current car than it is worth. The shortfall is added to the new loan, so you finance the gap on top of the new vehicle and start the next loan already underwater.
›Should I include tax and fees in the loan?
Include them if you are financing them, which most buyers do. Sales tax, documentation, title and registration fees are added to the amount financed and accrue interest like everything else.
›What APR should I expect?
It depends on credit score, term and whether the vehicle is new or used. Manufacturer finance often undercuts banks on new cars, sometimes at 0%, while used-car rates are typically several points higher.