Car Payment Calculator

Calculate your monthly auto loan payment instantly. Enter your car price, down payment, trade-in value, and loan details to see exactly what your monthly payment will be. Our car payment calculator factors in all costs to give you accurate payment estimates for new and used cars. Perfect for car shopping and budgeting your next vehicle purchase.

Car Loan Details

Total price including taxes and fees
Cash you'll pay upfront
Value of your current car
APR from your lender
Common terms: 36, 48, 60, 72 months

Payment Results

Monthly Payment: $0.00
Total Interest: $0.00
Total Cost: $0.00
Amount Financed: $0.00

Payment Breakdown

Car Price: $0.00
- Down Payment: -$0.00
- Trade-In Value: -$0.00
Loan Amount: $0.00

How Car Payments Are Calculated

Your monthly car payment is determined by the amount financed (car price minus down payment and trade-in value), the interest rate (APR), and the loan term. The calculator uses the standard loan formula: M = P × r × (1+r)^n / ((1+r)^n − 1).

A larger down payment or higher trade-in value reduces the amount you need to finance, lowering your monthly payment. Longer loan terms reduce monthly payments but increase total interest costs. Shorter terms mean higher monthly payments but less interest overall.

Consider the total cost of the loan, not just the monthly payment. A 72-month loan might have a lower payment than a 48-month loan, but you'll pay significantly more in interest over the life of the loan.

Frequently Asked Questions

What affects my car payment amount?
Your car payment is affected by the vehicle price, down payment, trade-in value, interest rate (APR), and loan term length. Lower rates and larger down payments reduce monthly payments.
How much should I put down on a car?
A good down payment is typically 10-20% for a new car and 10% for a used car. More down payment means lower monthly payments and less interest paid over time.
What's the best car loan term?
Shorter terms (3-4 years) have higher monthly payments but lower total interest. Longer terms (5-7 years) have lower monthly payments but cost more overall.
Should I trade in or sell my car privately?
Private sales typically get higher prices but require more effort. Trade-ins are convenient and may reduce sales tax, but usually offer less money than private sales.
What's a good interest rate for a car loan?
Good rates vary by credit score and market conditions. Excellent credit (750+) might qualify for 3-5% rates, while fair credit (650-699) might see 8-12% rates.

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FTC Disclosure: This website may contain affiliate links. We may receive compensation if you click on links to third-party websites. This does not affect our recommendations or the calculator results. All calculations are for informational purposes only and should not be considered financial advice.