{"id":56691,"date":"2015-11-28T12:20:11","date_gmt":"2015-11-28T10:20:11","guid":{"rendered":"http:\/\/wpcalc.com\/?p=56691"},"modified":"2026-10-23T09:57:49","modified_gmt":"2026-10-23T06:57:49","slug":"auto-loan-calculator","status":"publish","type":"post","link":"https:\/\/wpcalc.com\/en\/finance\/auto-loan-calculator\/","title":{"rendered":"Car Payment Calculator \u2013 Auto Loan"},"content":{"rendered":"<section class=\"not-prose calculator-box\" aria-labelledby=\"calculator-title\"><div class=\"flex items-baseline sm:items-center justify-between gap-2 sm:gap-3\"><div class=\"flex flex-col sm:flex-row sm:items-center gap-2\"><span class=\"icon icon-calculator text-primary-700! text-base! dark:text-primary-300!\" aria-hidden=\"true\"><\/span><h2 id=\"calculator-title\" class=\"text-lg font-display font-bold\">Car Loan Payment Calculator<\/h2><\/div><div class=\"calcdash-favorite group\">\n  <button type=\"button\" class=\"favorite\" id=\"favorite\" data-favorite-id=\"56691\" data-favorite-title=\"Auto Loan\" data-favorite-url=\"https:\/\/wpcalc.com\/en\/finance\/auto-loan-calculator\/\" data-favorite-excerpt=\"Estimate your monthly car payment and total interest cost from the car&#039;s price, down payment, loan term, and annual interest rate. Compare annuity and classical (declining) repayment schedules side by side.\" aria-label=\"Add to Favorites\" data-favorite-icon=\"icon icon-loan\">\n    <span class=\"icon icon-shape-star-empty\" aria-hidden=\"true\"><\/span>\n  <\/button>\n  <div class=\"calcdash-favorite__tip\" aria-hidden=\"true\">\n   <span class=\"favorite-tooltip\" id=\"favorite-tooltip\"><\/span>\n  <\/div>\n  <span class=\"sr-only\" role=\"status\" id=\"favorite-status\"><\/span>\n<\/div><\/div><form action=\"https:\/\/wpcalc.com\/en\/finance\/auto-loan-calculator\/\" method=\"POST\" class=\"calculator\" id=\"calculator-56691\" data-post=\"56691\"><fieldset class=\"fieldset-input\"><legend class=\"sr-only\">Input Fields<\/legend><div class=\"field\" id=\"input-1\"><label for=\"field-1\">Car cost<\/label><input type=\"text\" name=\"car_cost\" id=\"field-1\" aria-describedby=\"calc-unit-1 calc-info-1\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" value=\"30000\"\/><div class=\"unit\" id=\"calc-unit-1\">$<\/div><small id=\"calc-info-1\">Enter the total cost of the car<\/small><\/div><div class=\"field\" id=\"input-2\"><label for=\"field-2\">Down payment<\/label><input type=\"text\" name=\"down_payment\" id=\"field-2\" aria-describedby=\"calc-unit-2 calc-info-2\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" value=\"5000\"\/><div class=\"unit\" id=\"calc-unit-2\">$<\/div><small id=\"calc-info-2\">Enter your down payment<\/small><\/div><div class=\"field\" id=\"input-3\"><label for=\"field-3\">Loan term<\/label><input type=\"text\" name=\"loan_term\" id=\"field-3\" aria-describedby=\"calc-unit-3 calc-info-3\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"1\" max=\"10\" value=\"5\"\/><div class=\"unit\" id=\"calc-unit-3\">years<\/div><small id=\"calc-info-3\">Loan term in years<\/small><\/div><div class=\"field\" id=\"input-4\"><label for=\"field-4\">Interest rate<\/label><input type=\"text\" name=\"interest_rate\" id=\"field-4\" aria-describedby=\"calc-unit-4 calc-info-4\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" max=\"100\" value=\"5\"\/><div class=\"unit\" id=\"calc-unit-4\">%<\/div><small id=\"calc-info-4\">Annual interest rate<\/small><\/div><div class=\"field\" id=\"input-5\"><label for=\"field-5\">Payment type<\/label><div class=\"grid grid-cols-1\"><select id=\"field-5\" name=\"payment_type\"><option value=\"1\">Annuity<\/option><option value=\"2\">Classical<\/option><\/select><svg class=\"pointer-events-none col-start-1 row-start-1 mr-2 size-5 self-center justify-self-end text-gray-500 sm:size-4\" viewBox=\"0 0 16 16\" fill=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\">\n              <path fill-rule=\"evenodd\" d=\"M4.22 6.22a.75.75 0 0 1 1.06 0L8 8.94l2.72-2.72a.75.75 0 1 1 1.06 1.06l-3.25 3.25a.75.75 0 0 1-1.06 0L4.22 7.28a.75.75 0 0 1 0-1.06Z\" clip-rule=\"evenodd\" \/>\n            <\/svg><\/div><\/div><\/fieldset><div class=\"buttons\"><button type=\"submit\" data-text=\"Re-Calculate\" id=\"calculate-button\" data-post=\"56691\">Calculate<\/button><button type=\"reset\">Reset<\/button><\/div><div class=\"field is-checkbox hidden!\" id=\"field-auto-calc\"><input type=\"checkbox\" id=\"auto-calc\"><label for=\"auto-calc\">Calculate automatically<\/label><small>If enabled, the result will update automatically when you change any value.<\/small><\/div><div class=\"fieldset-result is-hidden\" aria-labelledby=\"result-title\" aria-live=\"polite\" role=\"region\"> <h3 class=\"result-title bg-gradient-to-r from-primary-50 to-gray-50 dark:from-primary-900 dark:to-gray-800\" id=\"result-title\"><span class=\"icon icon-s-pulse\" aria-hidden=\"true\"><\/span> Your Results<\/h3><div class=\"result-box\"><div class=\"field-result\" id=\"output-1\"><span class=\"field-title\"><span>Monthly Payment<\/span><\/span><span class=\"field-value\" id=\"result-1\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-2\"><span class=\"field-title\"><span>Total Payment<\/span><\/span><span class=\"field-value\" id=\"result-2\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-3\"><span class=\"field-title\"><span>Total Interest<\/span><\/span><span class=\"field-value\" id=\"result-3\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><\/div><div class=\"result-actions\"><button type=\"button\" class=\"copy-link\"><svg viewBox=\"0 0 20 20\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M12.232 4.232a2.5 2.5 0 0 1 3.536 3.536l-1.225 1.224a.75.75 0 0 0 1.061 1.06l1.224-1.224a4 4 0 0 0-5.656-5.656l-3 3a4 4 0 0 0 .225 5.865.75.75 0 0 0 .977-1.138 2.5 2.5 0 0 1-.142-3.667l3-3Z\"\/><path d=\"M11.603 7.963a.75.75 0 0 0-.977 1.138 2.5 2.5 0 0 1 .142 3.667l-3 3a2.5 2.5 0 0 1-3.536-3.536l1.225-1.224a.75.75 0 0 0-1.061-1.06l-1.224 1.224a4 4 0 1 0 5.656 5.656l3-3a4 4 0 0 0-.225-5.865Z\"\/><\/svg><span class=\"copy-link__text\">Copy link to this calculation<\/span><\/button><span class=\"sr-only\" role=\"status\" id=\"copy-link-status\"><\/span><\/div><\/div><a href=\"#respond\" class=\"hidden transition-opacity duration-300 opacity-0 w-50 text-sm justify-center items-center gap-2 px-4 py-2 rounded bg-gray-200 text-gray-700 hover:bg-gray-300\" id=\"leave-comment\"><span class=\"icon icon-comments\" aria-hidden=\"true\"><\/span>Leave a Comment<\/a><\/form><\/section><section id=\"calc-reactions\" class=\"not-prose hidden my-12 bg-gradient-to-r from-primary-50 to-gray-50 border border-indigo-100 rounded-xl px-6 py-4 shadow-sm\" data-post=\"56691\" aria-live=\"polite\" aria-labelledby=\"calc-reactions-title\"><p id=\"calc-reactions-title\" class=\"text-sm text-gray-500 text-center mb-2\">How did this result make you feel?<\/p><div role=\"group\" aria-labelledby=\"calc-reactions-title\" class=\"grid grid-cols-3 sm:flex sm:flex-row sm:justify-around gap-4 sm:items-center sm:flex-wrap\"><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"like\"><span class=\"reaction-count\" data-reaction-count=\"like\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\ude00 <\/span><span class=\"reaction-description font-medium\">Like <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"helpful\"><span class=\"reaction-count\" data-reaction-count=\"helpful\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\udca1 <\/span><span class=\"reaction-description font-medium\">Helpful <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"confused\"><span class=\"reaction-count\" data-reaction-count=\"confused\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\ude15 <\/span><span class=\"reaction-description font-medium\">Confused <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"disappointed\"><span class=\"reaction-count\" data-reaction-count=\"disappointed\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\ude1e <\/span><span class=\"reaction-description font-medium\">Disappointed <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"inaccurate\"><span class=\"reaction-count\" data-reaction-count=\"inaccurate\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\u274c <\/span><span class=\"reaction-description font-medium\">Inaccurate <\/span><\/button><\/div><div id=\"reaction-message\" class=\"hidden mt-8 rounded-md border border-primary-100 bg-white\/50 backdrop-blur-sm px-4 py-2 text-sm text-center shadow-sm\"><\/div><\/section><div class=\"calcdash-ad not-prose calcdash-ad--calc_result calcdash-ad--in-article\"><ins class=\"adsbygoogle\" style=\"display:block\" data-ad-client=\"ca-pub-1721569815777345\" data-ad-slot=\"6317458308\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\"><\/ins><script>(adsbygoogle = window.adsbygoogle || []).push({});<\/script><\/div>\n<style id=\"wpcoderpro-inline-1\">.formula-box {\r\n\tborder-bottom: none !important;\r\n}<\/style><section class=\"formula-box\" aria-labelledby=\"formula-title\">\r\n\t<div id=\"formula-title\" class=\"not-prose font-display mb-4\"><span class=\"icon icon-formula\" aria-hidden=\"true\"><\/span><h2>Auto Loan Payment Formula<\/h2><\/div>\r\n\t<figure class=\"not-prose formula\">\r\n\t\t<figcaption class=\"formula-title\">Formula<\/figcaption>\r\n\t\t<div class=\"text-base text-gray-800\" id=\"formula\">\nPMT = \\frac{P \\times r}{1 - (1 + r)^{-n}}\n<\/div>\r\n\t<\/figure>\r\n\t<\/p>\n<p><strong>Where:<\/strong><\/p>\n<ul>\n<li>\\(PMT\\) \u2014 monthly auto loan payment<\/li>\n<li>\\(P\\) \u2014 principal loan amount (car cost minus down payment)<\/li>\n<li>\\(r\\) \u2014 monthly interest rate (annual rate divided by 12)<\/li>\n<li>\\(n\\) \u2014 total number of monthly payments (loan term in years \u00d7 12)<\/li>\n<\/ul>\n<p>This is the standard annuity formula: it produces the fixed monthly payment that fully repays the principal plus interest over the loan term. If the interest rate is zero, the payment is simply \\(PMT = P \/ n\\).<\/p>\n<p>\r\n<\/section>\n<style id=\"wpcoderpro-inline-459\">.calculation-box {\r\n\tborder-bottom: none !important;\r\n}<\/style><section id=\"calculation\" class=\"calculation-box\" aria-labelledby=\"calculation-title\">\r\n\t<div id=\"calculation-title\" class=\"not-prose font-display\"><span class=\"icon icon-unordered-list\" aria-hidden=\"true\"><\/span><h2>Auto Loan \u2013 Calculation Example<\/h2><\/div>\r\n\r\n<\/p>\n<p><strong>Example:<\/strong> you buy a car for $30,000, make a $5,000 down payment, and finance the rest over 5 years at a 5% annual interest rate with annuity payments.<\/p>\n<p>\\[P = 30000 - 5000 = 25000\\]<\/p>\n<p>\\[r = \\frac{5\\%}{12} = 0.0041667, \\quad n = 5 \\times 12 = 60\\]<\/p>\n<p>\\[PMT = \\frac{25000 \\times 0.0041667}{1 - (1 + 0.0041667)^{-60}} \\approx 471.78\\]<\/p>\n<p><strong>Result:<\/strong> the monthly payment is about <strong>$471.78<\/strong>. Over 60 payments the total comes to roughly <strong>$28,306.95<\/strong>, of which <strong>$3,306.95<\/strong> is interest.<\/p>\n<p>\n\r\n<\/section>\n<h2>How to Use the Auto Loan Calculator<\/h2>\n<ol>\n<li>Enter the full <strong>Car cost<\/strong> \u2014 the vehicle's negotiated price, including any extras or fees you plan to finance.<\/li>\n<li>Enter your <strong>Down payment<\/strong> \u2014 the cash amount you pay upfront. A larger down payment reduces the principal and the interest you pay.<\/li>\n<li>Set the <strong>Loan term<\/strong> in years (1 to 10). Longer terms lower the monthly payment but raise total interest.<\/li>\n<li>Enter the <strong>Interest rate<\/strong> \u2014 the annual percentage rate (APR) quoted by your lender, without the % sign.<\/li>\n<li>Choose the <strong>Payment type<\/strong>: <em>Annuity<\/em> for a fixed monthly payment, or <em>Classical<\/em> for equal principal portions with declining interest each month.<\/li>\n<li>Read the results: <strong>Monthly Payment<\/strong>, <strong>Total Payment<\/strong> (principal plus interest), and <strong>Total Interest<\/strong> \u2014 the true cost of borrowing.<\/li>\n<\/ol>\n<h2>What the Results Mean<\/h2>\n<p>The calculator answers the single most important question when financing a car: what will this vehicle really cost me? The <strong>Monthly Payment<\/strong> tells you whether the loan fits your budget, while the <strong>Total Interest<\/strong> shows how much extra you pay for borrowing. In the example above, a $25,000 loan costs about $3,307 in interest over five years \u2014 meaning the car effectively costs $28,307 plus your down payment.<\/p>\n<p>The two payment types differ in how interest is distributed. With an <strong>annuity<\/strong> (the most common type of auto loan), every payment is identical, which makes budgeting simple. Interest is front-loaded: early payments are mostly interest, while later ones are mostly principal. With the <strong>classical<\/strong> (declining-balance) schedule, you repay an equal share of principal each month plus interest on the remaining balance, so payments start higher and gradually shrink. Because the balance falls faster on average, the classical method results in less total interest for the same rate and term.<\/p>\n<p>Use the calculator to run scenarios before you visit a dealership. Compare a 3-year term against a 6-year term, or a 10% down payment against 20%. Watching how Total Interest changes is often more revealing than the monthly payment alone \u2014 a longer term can cut your payment by a third while nearly doubling the interest you pay.<\/p>\n<h2>Assumptions, Limitations and Practical Tips<\/h2>\n<ul>\n<li>The calculator assumes a fixed interest rate and payments made on schedule every month. Variable-rate loans will produce different results over time.<\/li>\n<li>Taxes, registration fees, dealer fees, and insurance are not included unless you add them to the car cost yourself.<\/li>\n<li>A trade-in works like a down payment: enter its value in the down payment field to see its effect on financing.<\/li>\n<li>Lenders may charge an origination fee or prepayment penalty, which affect the true cost of the loan. Check whether extra payments are allowed without fees \u2014 paying slightly more than the required amount each month can shorten the loan and save substantial interest.<\/li>\n<li>Keep total car costs (payment, insurance, fuel, maintenance) under roughly 15\u201320% of your monthly take-home pay to avoid overextending your budget.<\/li>\n<\/ul>\n<p>To compare car financing with other types of borrowing, try our <a href=\"https:\/\/wpcalc.com\/en\/finance\/loan-calculator\/\">Loan Calculator<\/a>, or use the <a href=\"https:\/\/wpcalc.com\/en\/finance\/mortgage-payment\/\">Mortgage Payment Calculator<\/a> for home loans, which uses the same annuity math. If you are weighing the purchase against investing the money instead, the <a href=\"https:\/\/wpcalc.com\/en\/finance\/return-on-investment\/\">Return on Investment Calculator<\/a> can help you compare outcomes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Estimate your monthly car payment and total interest cost from the car's price, down payment, loan term, and annual interest rate. Compare annuity and classical (declining) repayment schedules side by side.<\/p>\n","protected":false},"author":70,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[30],"class_list":["post-56691","post","type-post","status-publish","format-standard","hentry","category-finance","tag-mortgage"],"acf":[],"_links":{"self":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts\/56691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/users\/70"}],"replies":[{"embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/comments?post=56691"}],"version-history":[{"count":4,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts\/56691\/revisions"}],"predecessor-version":[{"id":67447,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts\/56691\/revisions\/67447"}],"wp:attachment":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/media?parent=56691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/categories?post=56691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/tags?post=56691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}