Scenario 1
New car
$35,000, $5,000 down, 7% rate, 60 months → $594/month, $5,640 in interest.
Trusted by freelancers and business owners
Car Loan Calculator
Know the real monthly cost of any car before you walk into the dealership.
Adjust your inputs
Results update instantly as you type or drag.
500 – 500,000
$
0 – 200,000
$
0 – 100,000
$
Value of vehicle you're trading in
0 – 30
%
12 – 96
Quick insights
Total interest
$5,642
Total cost
$40,642
Quick answer
How do you calculate a car loan payment?
Monthly Payment = Loan × r(1+r)^n / ((1+r)^n − 1). The loan amount is price minus down payment and trade-in value.
How it works
From inputs to result in four steps
A quick walkthrough of what this calculator does behind the scenes.
- 1
Enter the car price.
- 2
Add your down payment and trade-in value.
- 3
Enter the annual interest rate.
- 4
Set the loan term (36–72 months is typical).
Formula
The math behind the number
No black box — here's exactly how the result is computed.
Formula
Loan = Car price − down payment − trade-in
r = Annual rate ÷ 12 ÷ 100
n = Term in months
Monthly Payment = Loan × r × (1 + r)^n
─────────────────────
(1 + r)^n − 1Examples
Real-world scenarios
See how the numbers play out for typical use cases.
Scenario 2
Used car
$18,000, $3,000 down, 9% rate, 48 months → $374/month, $2,952 in interest.
Related
Pair this with
Other calculators that work well alongside this one.
Finance
Loan Calculator
Calculate your monthly loan payment, total interest paid, and total repayment amount for any loan.
Open calculatorFinance
Mortgage Calculator
Calculate your monthly mortgage payment, total interest, and total cost of buying a home.
Open calculatorFinance
Debt Payoff Calculator
Calculate how long it will take to pay off a debt and how much interest you'll pay in total.
Open calculator