Car loan calculator
Money & financeHow much will your car loan cost?
See the monthly payment and full purchase cost, including your deposit, trade-in, tax and fees.
What you enter stays on your device while you use this tool. Opening a shared link sends the settings in its address to HowToolbox to prepare the page.
Deposit, trade-in and purchase costs
Tax is added to the full price. Use 0% if tax is included. Trade-in means credit left after its old loan is paid off; negative equity is not supported.
Monthly payment
$386.66
$20,000.00 financed over 60 months
Includes your cash down payment and trade-in credit; excludes running costs.
Uses a fixed annual interest rate. A fee-inclusive APR gives only an estimate; do not add the same lender fees again.
Total purchase cost
- Price, tax and fees $25,000.00 · 89%
- Total interest $3,199.36 · 11%
= Total purchase cost $28,199.36
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Car loan amortization
$20,000.00 repaid in monthly instalments; total interest $3,199.36.
- Principal
- Interest
- Remaining balance
| Payment month | Principal | Interest | Remaining balance |
|---|---|---|---|
| 1 | $286.66 | $100.00 | $19,713.34 |
| 2 | $288.09 | $98.57 | $19,425.25 |
| 3 | $289.53 | $97.13 | $19,135.72 |
| 4 | $290.98 | $95.68 | $18,844.75 |
| 5 | $292.43 | $94.22 | $18,552.32 |
| 6 | $293.89 | $92.76 | $18,258.42 |
| 7 | $295.36 | $91.29 | $17,963.06 |
| 8 | $296.84 | $89.82 | $17,666.22 |
| 9 | $298.32 | $88.33 | $17,367.89 |
| 10 | $299.82 | $86.84 | $17,068.07 |
| 11 | $301.32 | $85.34 | $16,766.76 |
| 12 | $302.82 | $83.83 | $16,463.94 |
| 13 | $304.34 | $82.32 | $16,159.60 |
| 14 | $305.86 | $80.80 | $15,853.74 |
| 15 | $307.39 | $79.27 | $15,546.35 |
| 16 | $308.92 | $77.73 | $15,237.43 |
| 17 | $310.47 | $76.19 | $14,926.96 |
| 18 | $312.02 | $74.63 | $14,614.94 |
| 19 | $313.58 | $73.07 | $14,301.36 |
| 20 | $315.15 | $71.51 | $13,986.21 |
| 21 | $316.72 | $69.93 | $13,669.49 |
| 22 | $318.31 | $68.35 | $13,351.18 |
| 23 | $319.90 | $66.76 | $13,031.28 |
| 24 | $321.50 | $65.16 | $12,709.78 |
| 25 | $323.11 | $63.55 | $12,386.67 |
| 26 | $324.72 | $61.93 | $12,061.95 |
| 27 | $326.35 | $60.31 | $11,735.60 |
| 28 | $327.98 | $58.68 | $11,407.62 |
| 29 | $329.62 | $57.04 | $11,078.00 |
| 30 | $331.27 | $55.39 | $10,746.74 |
| 31 | $332.92 | $53.73 | $10,413.82 |
| 32 | $334.59 | $52.07 | $10,079.23 |
| 33 | $336.26 | $50.40 | $9,742.97 |
| 34 | $337.94 | $48.71 | $9,405.03 |
| 35 | $339.63 | $47.03 | $9,065.40 |
| 36 | $341.33 | $45.33 | $8,724.07 |
| 37 | $343.04 | $43.62 | $8,381.03 |
| 38 | $344.75 | $41.91 | $8,036.28 |
| 39 | $346.47 | $40.18 | $7,689.81 |
| 40 | $348.21 | $38.45 | $7,341.60 |
| 41 | $349.95 | $36.71 | $6,991.65 |
| 42 | $351.70 | $34.96 | $6,639.95 |
| 43 | $353.46 | $33.20 | $6,286.50 |
| 44 | $355.22 | $31.43 | $5,931.27 |
| 45 | $357.00 | $29.66 | $5,574.27 |
| 46 | $358.78 | $27.87 | $5,215.49 |
| 47 | $360.58 | $26.08 | $4,854.91 |
| 48 | $362.38 | $24.27 | $4,492.53 |
| 49 | $364.19 | $22.46 | $4,128.34 |
| 50 | $366.01 | $20.64 | $3,762.32 |
| 51 | $367.84 | $18.81 | $3,394.48 |
| 52 | $369.68 | $16.97 | $3,024.79 |
| 53 | $371.53 | $15.12 | $2,653.26 |
| 54 | $373.39 | $13.27 | $2,279.87 |
| 55 | $375.26 | $11.40 | $1,904.62 |
| 56 | $377.13 | $9.52 | $1,527.48 |
| 57 | $379.02 | $7.64 | $1,148.46 |
| 58 | $380.91 | $5.74 | $767.55 |
| 59 | $382.82 | $3.84 | $384.73 |
| 60 | $384.73 | $1.92 | $0.00 |
See the monthly payment and full purchase cost, including your deposit, trade-in, tax and fees.
How to use
- Enter the vehicle price, annual interest rate and loan term in months.
- Add your cash down payment, net trade-in credit and any purchase fees below the result.
- Set added tax to 0% if it is already in the price. Compare the payment, total cost and repayment schedule.
How it works
The amount financed is the vehicle price plus added tax and financed purchase fees, minus your cash down payment and net trade-in credit. Total purchase cost adds those upfront contributions back to all loan payments: it includes the value of the car you trade in, not just cash.
Each fixed monthly payment repays some principal and pays interest on the remaining balance. The payment is A = P × r / (1 − (1 + r)^−n), where P is the financed amount, r is the annual interest percentage divided by 1200 and n is the number of months. At zero interest, A = P / n.
The CFPB’s auto loan guidance explains why a longer term usually lowers payments but increases total interest. This estimate uses equal monthly periods and a fixed nominal interest rate, following the standard annuity method documented in Microsoft’s PMT reference. APR includes some fees, so entering it instead of the interest rate is only an approximation.
Added tax applies to the full entered price before any trade-in deduction; local tax rules can differ. Use a tax-inclusive quoted price and 0% tax when needed. No balloon payment, negative trade-in equity, recurring fees, insurance or running costs are included. Lender rounding and daily interest can change the actual payments.
Worked example
What is the monthly payment for a €15,000.00 car with €3,000.00 down over 24 months at zero interest?
- €15,000.00 − €3,000.00 = €12,000.00.
- €12,000.00 ÷ 24 = €500.00.
€500.00 a month, with no added tax, fees or trade-in.
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Frequently asked questions
Does the price include VAT or sales tax?
Use the price from your quote. If it already includes tax, leave added tax at 0%. Otherwise the entered percentage is added to the whole price; no regional deductions are calculated.
What trade-in amount should I enter?
Enter only the positive credit left after paying off the old car loan. Do not also count that credit in the cash down payment. This calculator does not model negative equity.
Can I use my quoted APR?
You can use it for a rough estimate. For a payment closer to the contract, use the nominal interest rate and enter financed fees separately. APR includes some fees, so adding those again can overstate the cost.
Does this support a large final payment?
No. The loan is fully repaid through equal monthly instalments, without a balloon payment.
Does a bigger down payment reduce interest?
At the same rate and term, yes: you borrow less, so the monthly payment and total interest fall.
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