Car Loan Calculator
Estimate your car loan monthly payment and view a full amortization schedule (principal & interest).
Car Loan Calculator tool
Tip: If you want taxes/fees included, add them into the loan amount (principal).
Use the lender APR if available. APR may differ from the nominal rate when fees are involved.
| Month | Payment | Principal | Interest | Balance |
|---|
Informational only. Real loans may include fees, different rounding, or additional charges.
This calculator uses standard amortized loan math (fixed monthly payment). We compute the monthly interest rate from APR and then calculate the payment amount.
Monthly payment formula:
M = P × (r(1+r)^n) ÷ ((1+r)^n − 1)
Where P = loan amount, r = monthly rate, n = number of payments.
The amortization schedule shows how interest typically decreases over time as the remaining balance gets smaller.
Examples
- $25,000 at 6.5% APR for 60 months → payment estimate + schedule
- $15,000 at 0% APR for 36 months → equal principal payments, $0 interest
- Compare two offers by changing APR and term to see total interest difference
FAQ
- Does this include taxes, registration, or dealer fees?
No. This calculator estimates principal and interest only. Add taxes/fees into the loan amount if you want them reflected in the payment.
- Is APR the same as interest rate?
APR is the effective borrowing cost and may include fees. If your lender provides APR, use that value for the closest estimate.
- What if my APR is 0%?
If APR is 0%, the monthly payment is simply loan amount divided by the number of months, and total interest is $0.
- Why can my result differ from my lender’s quote?
Lenders can use different rounding rules, payment timing assumptions, or include additional fees. This tool is an estimate for planning.
- What is an amortization schedule?
It’s a month-by-month table showing how each payment is split between interest and principal, and how the remaining balance declines over time.