Car Payment Calculator
Drag the sliders to see your monthly payment, total interest, and total cost of the loan. Updates live as you adjust.
Car Payment Calculator
Estimate your monthly payment, total interest, and full loan cost. Drag the sliders — results update live.
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Tips to lower your payment
Larger down payment
- ~$20/mo savings per $1,000 down
- Less interest over loan life
- Reduces negative-equity risk
Shop the APR
- Credit union quote first
- Online lender quote second
- Dealer quote last (for leverage)
Shorter term
- 60 months → sweet spot
- Avoid 72/84-mo loans
- Pay off sooner, less interest
Frequently asked questions
How is my payment calculated?
Using the standard bank amortization formula: M = P×[r(1+r)n] / [(1+r)n−1], where P is loan principal, r is monthly interest rate (APR÷12), and n is number of monthly payments.
What counts as the principal?
Vehicle price minus down payment minus trade-in value, plus sales tax if you choose to roll the tax into the loan.
What loan term should I pick?
60 months is the traditional sweet spot. 72 and 84-month loans have lower monthly payments but pay far more interest and keep you underwater for years.
What APR should I use?
In 2026, major lenders quote 6-9% for excellent credit (720+), 9-13% for good credit (660-719), and 13-19%+ for fair credit. Get 3+ quotes before signing.