Is a longer loan better?
The payment drops, but you pay more interest overall. Compare the total interest at two lengths.
Auto Loan Calculator
What a car costs each month.
Monthly payment
$0- Amount financed
- $0
- Total interest
- $0
- Total you pay
- $0
How it’s calculated
- Financed = price − down payment − trade-in
- Payment = rate × loan ÷ (1 − (1 + rate)^−months)
Example: Financing $30,000 at 7% for 60 months is $594.04 a month, with $5,642.16 of interest.
About the Auto Loan Calculator
Monthly payment after your down payment and trade-in, with total interest.
How to use this tool
- Enter the car price, down payment and trade-in.
- Enter the rate and length.
- Read your payment and total interest.
Frequently asked questions
Does this include sales tax?
Not separately. Add it to the car price if you are financing it.