Auto Loan Calculator
See your real monthly payment and exactly how much interest a car loan will cost — before you sit down with a lender.
Free, instant, and currency-agnostic — choose your currency inside the tool.
Read the total cost, not just the monthly payment
Dealers sell cars by the monthly payment because a low number feels affordable. The figure that actually matters is the total of payments — the price you pay once interest is added. Two loans with the same monthly cost can differ by thousands once you account for the term.
This calculator shows both. Adjust the term and watch the monthly payment fall while the total interest climbs: that trade-off is the single most important thing to understand before financing a car.
Cut what you borrow
Interest is charged on the amount financed, so the two levers that save the most are a larger down payment and a shorter term. A trade-in works like extra cash down. Once you know your payment, check whether it fits comfortably with our affordability calculator, and weigh financing against leasing with the lease vs buy tool.
Frequently asked questions
How is the monthly payment worked out?
We use the standard amortising-loan formula. The amount financed (price minus your down payment and any trade-in) is spread across the term at the APR you enter, so each payment covers interest first and chips away at the balance.
Does a longer term make the car cheaper?
It lowers the monthly payment but raises the total cost. Stretching a loan to 72 or 84 months can add hundreds or thousands in interest and keeps you in negative equity longer. Shorter is almost always cheaper overall.
Should I put more money down?
A bigger down payment cuts the amount financed, so you pay less interest and are less likely to owe more than the car is worth. Aim for at least 10–20 percent where you can.
What APR should I expect?
It depends on your credit, the lender and whether the car is new or used. Always compare the APR (not just the monthly figure) across a bank, a credit union and the dealer before signing.