Car Loan Calculator
Estimate monthly car payments after a down payment, net trade-in credit and financed fees. See the amount financed and total interest separately.
Monthly principal + interest
Fixed-rate monthly financing. Principal = vehicle price − down payment − net trade-in credit + financed fees. No tax rate is inferred. Negative trade-in equity must be included in financed fees. Insurance, running costs and prepayment penalties are excluded.
Your repayment plan
Fixed interest rate, monthly payments and no lender rounding or changing fees. Taxes and insurance stay outside this loan balance.
| Year | Payments | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $5,940.36 | $4,327.45 | $1,612.91 | $20,672.55 |
| 2 | $5,940.36 | $4,640.28 | $1,300.08 | $16,032.27 |
| 3 | $5,940.36 | $4,975.73 | $964.63 | $11,056.54 |
| 4 | $5,940.36 | $5,335.42 | $604.94 | $5,721.12 |
| 5 | $5,940.36 | $5,721.12 | $219.24 | $0.00 |
Formula checked · NumberSwift · Review process
For informational purposes only. Results are estimates and do not constitute financial advice.
How this calculator works
Vehicle price minus the deposit and net trade-in credit plus financed fees determines the loan principal. The fixed-rate schedule shows monthly payments and interest. If a trade-in has negative equity, enter the shortfall as financed fees. Insurance and vehicle running costs are outside this financing estimate.
Formula
Monthly payment = P × r / (1 − (1+r)^(−n)), where P is financed principal, r = annual interest rate (%) / 100 / 12 and n = years × 12. At 0% interest, payment = P/n. Interest each month = outstanding balance × r.
Assumptions & limitations
Fixed-rate monthly financing. Principal = vehicle price − down payment − net trade-in credit + financed fees. No tax rate is inferred. Negative trade-in equity must be included in financed fees. Insurance, running costs and prepayment penalties are excluded.
Sources & reference material
- OpenStax: annuities ↗
Background for fixed periodic payments and contributions.
- CFPB: down payments on auto loans ↗
Background on financed amount and an outstanding trade-in balance.
Worked example
A $30,000 car with a $5,000 down payment, no trade-in and 7% interest over five years has a monthly payment of $495.03.
For a balance you have already financed, use the Loan Calculator to enter that principal directly.
Our approach to calculations ↗Common questions
How should I enter my trade-in?
Use the trade-in value minus the old loan payoff. Enter a positive net credit here; include negative equity in financed costs instead.
Are sales tax and dealer fees included?
Only if entered in financed taxes and fees. The tool does not infer a local tax rate or add costs paid separately in cash.
Does the payment include running costs?
No. Vehicle insurance, maintenance, fuel and depreciation are outside this financing estimate.