Auto Loan Calculator
How do I use the auto loan calculator?
An easy-to-use car loan calculator with a printable payment schedule. Optionally considers taxes, amount down, trade-in, and maintenance. APR calculation. Also:
- Insurance, registration & fees
- Export to XLSX/DOCX files
- Impact of extra payments
Learn all the details about the cost of car ownership.
Using the calculator is straightforward.
- Click Clear and enter values for:
- Amount of Loan
- Number of Payments
- Annual Interest Rate
- Optionally set the dates.
- Leave Loan Payment Amount set to 0.
- Click “Calc”, or
- “Payment Schedule” for a detailed payment report.
- Calculation complete.
Auto Loan Payment Schedule
An auto loan schedule calculates the payment amount and shows the breakdown between principal and interest, and possibly other fees and charges. Note that with most calculators on this site, you may use the “Payment Schedule” button or a “Print Preview” button instead of the “Calc” button. More below…
The Calculator-Calculate Price, Down Payment, Payment, Rate, Term or Required Loan Amount
Information
Calculation Details
VERY IMPORTANT — You must enter 0 if you want a value calculated. A few users have wondered why this is. They want to know why the calculator does not simply recalculate the last results when they change one of the inputs, such as the loan amount.
| Cheat Sheet | ||
|---|---|---|
| Years | Biweekly | Monthly |
| 4 | 104 | 48 |
| 5 | 130 | 60 |
| 6 | 156 | 72 |
| 10 | 260 | 120 |
| 15 | 390 | 180 |
| 20 | 520 | 240 |
| 25 | 650 | 300 |
| 30 | 780 | 360 |
The calculator operates this way so you can create a payment schedule using any inputs you choose. This behavior is intentional. By not automatically recalculating a payment, the calculator lets users who do not have a “typical” auto loan create a custom schedule.
ABOUT DATES — This calculator allows an irregular-length first period. It calculates the exact amount of interest due even when the initial period is shorter or longer than the other scheduled periods. This can result in payment amounts, as well as interest charges, that do not match other calculators. If you want your results to match other calculators, set the “Loan Date” and the “1st Payment Date” so that the time between them equals one full period as set in “Payment Frequency.” Example: If the “Loan Date” is May 15 and the “Payment Frequency” is “Monthly,” then the “1st Payment Date” should be June 15—that is, IF you want a conventional interest calculation. See the end of the “Help” text for more details.
You may also leave the dates as they are when the calculator loads.
Auto Loan Amortization with a Difference
Do not let the page introduction mislead you.
When designing this auto loan amortization calculator, my objective was to create a calculator that gives you the ability to estimate the total cost of ownership.
The car financing is only part of the story: Economics of Car Use
To get a complete picture, you must also consider:
- sales tax
- insurance premiums
- maintenance
- periodic registration fees
- loan application fees
This calculator accounts for all these potential costs. (More about the economics of car use.)
What questions will an auto loan calculator answer for me?
- What price car can I afford?
- How much will my car payment be?
- What car loan rate do I need?
- How much should I put down on a car?
- How many months should I finance a car?
- How much will extra payments save in interest?
This auto loan calculator is not limited to car loans. It can also be useful whenever money is borrowed to purchase an item that requires a down payment.