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Browse Fiverr →Car Loan Calculator (monthly payment + total interest)
Enter car price, down payment, trade-in value, APR, and term in months. Returns the monthly payment using the standard amortization formula plus a full breakdown of principal, interest, and total cost.
- Monthly payment
- 46,608
- Loan amount
- 2,500,000
- Total interest
- 296,453
- Total of payments
- 2,796,453
Schedule
Click a year to expand its monthly breakdown; the CSV export includes every month.
PaymentPrincipalInterestBalance
›Year 1559,291456,122103,1692,043,878
Month 146,60837,2339,3752,462,767
Month 246,60837,3729,2352,425,395
Month 346,60837,5129,0952,387,883
Month 446,60837,6538,9552,350,230
Month 546,60837,7948,8132,312,436
Month 646,60837,9368,6722,274,500
Month 746,60838,0788,5292,236,422
Month 846,60838,2218,3872,198,201
Month 946,60838,3648,2432,159,836
Month 1046,60838,5088,0992,121,328
Month 1146,60838,6537,9552,082,676
Month 1246,60838,7987,8102,043,878
›Year 2559,291477,07682,2151,566,802
Month 1346,60838,9437,6652,004,935
Month 1446,60839,0897,5191,965,846
Month 1546,60839,2367,3721,926,611
Month 1646,60839,3837,2251,887,228
Month 1746,60839,5307,0771,847,697
Month 1846,60839,6796,9291,808,019
Month 1946,60839,8276,7801,768,191
Month 2046,60839,9776,6311,728,214
Month 2146,60840,1276,4811,688,088
Month 2246,60840,2776,3301,647,810
Month 2346,60840,4286,1791,607,382
Month 2446,60840,5806,0281,566,802
›Year 3559,291498,99360,2981,067,810
Month 2546,60840,7325,8761,526,070
Month 2646,60840,8855,7231,485,185
Month 2746,60841,0385,5691,444,147
Month 2846,60841,1925,4161,402,955
Month 2946,60841,3465,2611,361,609
Month 3046,60841,5025,1061,320,107
Month 3146,60841,6574,9501,278,450
Month 3246,60841,8134,7941,236,637
Month 3346,60841,9704,6371,194,667
Month 3446,60842,1284,4801,152,539
Month 3546,60842,2864,3221,110,254
Month 3646,60842,4444,1631,067,810
›Year 4559,291521,91637,374545,893
Month 3746,60842,6034,0041,025,206
Month 3846,60842,7633,845982,443
Month 3946,60842,9233,684939,520
Month 4046,60843,0843,523896,435
Month 4146,60843,2463,362853,190
Month 4246,60843,4083,199809,781
Month 4346,60843,5713,037766,211
Month 4446,60843,7342,873722,476
Month 4546,60843,8982,709678,578
Month 4646,60844,0632,545634,515
Month 4746,60844,2282,379590,287
Month 4846,60844,3942,214545,893
›Year 5559,291545,89313,3970
Month 4946,60844,5602,047501,333
Month 5046,60844,7281,880456,605
Month 5146,60844,8951,712411,710
Month 5246,60845,0641,544366,646
Month 5346,60845,2331,375321,414
Month 5446,60845,4021,205276,011
Month 5546,60845,5731,035230,439
Month 5646,60845,743864184,695
Month 5746,60845,915693138,780
Month 5846,60846,08752092,693
Month 5946,60846,26034846,433
Month 6046,60846,4331740
Related tools
How it works
How the monthly payment is calculated
We use the standard amortization formula: M = P × r / (1 − (1 + r)^−n), where P is the loan amount (price minus down payment minus trade-in), r is the monthly rate (APR / 12), and n is the number of months. Each monthly payment is split between interest (on the remaining balance) and principal (reducing the balance).
Early in the loan, most of your payment goes to interest. By the last few months, almost all of it goes to principal. This is why making extra principal-only payments early in the loan saves significantly more interest than the same extra payments late.
Term length tradeoffs
Shorter term (24-36 months): higher monthly payment, but much less total interest. You also build equity faster, reducing risk of being 'underwater' (owing more than the car is worth) if you need to sell.
Standard term (60 months): the most common balance between affordability and total interest. Most lenders advertise rates assuming a 60-month term.
Long term (72-84 months): lower monthly payment, but you pay significantly more interest and the car may be worth less than the loan balance for years. Generally avoid 84-month terms unless you have no alternative.
Beyond the loan: total cost of ownership
The loan payment is only one part of car cost. Add insurance ($100-300/month typical), fuel ($100-300/month depending on commute), maintenance ($50-150/month average), registration and taxes (annual), and depreciation (especially heavy in years 1-3). For a $30,000 car, total monthly cost can easily be $700-1,000 even with a $400 loan payment.
Lender 'pre-approval' is your friend. Get pre-approved for a loan amount and rate before walking into a dealership. Dealers often pad the rate (the 'dealer markup') by 1-3 percentage points; a pre-approval gives you negotiating leverage.
Formula and sources
The financed amount is the vehicle price minus your down payment and trade-in value. The monthly installment then follows the standard annuity formula M = P × r ÷ (1 − (1 + r)⁻ⁿ), with r the annual rate divided by 12 and n the term in months.
This matches the amortization method the U.S. Consumer Financial Protection Bureau describes for auto loans (see Sources). Dealer financing may add fees, taxes, or gap insurance on top, so compare the lender's contractual APR with the rate you enter here.
Frequently asked questions
›How much should my down payment be?
Aim for at least 10-20% of the vehicle price. A 20% down payment helps you avoid being underwater quickly and often qualifies for better rates.
›Is APR the same as interest rate?
Close, but APR includes some fees (origination, etc.) while interest rate is purely the borrowing cost. APR is the more accurate comparison number.
›Why do dealers always quote 60 or 72 months?
Because it makes the monthly payment look affordable. The total cost over 72 months can be 30%+ higher than over 36 months at the same rate.
›Can I pay off my car loan early?
Most loans allow this without penalty in the US, but check your loan agreement. In Japan and some EU countries, early-payoff fees are common — read the terms.
›What's a good APR for a car loan?
In normal rate environments: 4-7% for new cars with good credit, 6-10% for used cars or fair credit. Above 12% usually means subprime financing — explore alternatives if possible.
›Should I buy or lease?
Lease for short ownership (2-3 years) and predictable monthly cost. Buy if you keep cars long (5+ years) — total cost is lower over time. Our tool models the buy-with-loan scenario.
›How does the trade-in work in this calculator?
Trade-in value reduces the loan amount, just like a down payment. So $30,000 car − $5,000 trade-in − $2,000 down = $23,000 loan.
›Does the data leave my browser?
No. Everything runs locally; nothing is sent to a server.
Sources & methodology
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This tool provides general information and estimates only — it is not financial, investment, tax, or legal advice. Verify important figures with a qualified professional before making decisions.