Enter your Vehicle Price, Down Payment, Interest Rate, Loan Term, and details like Trade-in Value, Sales Tax Rate, and Title & Registration Fees to calculate your Monthly Payment — plus a full breakdown of your Total Interest Cost, Total Loan Amount, and the true Total Cost of your car including all fees.
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Total Interest Cost
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Total Loan Payments
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Total Loan Amount
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Total Cost (Price + Interest + Fees)
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Car loan interest is calculated on the remaining loan balance each month. Early payments go mostly toward interest, while later payments pay more principal. The total interest depends on your loan amount, interest rate, and term length.
Your credit score, loan term, down payment amount, and whether you're buying new or used all affect your interest rate. Higher credit scores and larger down payments typically result in lower rates.
Including taxes and fees in your loan means higher monthly payments and more total interest paid. However, it requires less cash upfront. Consider your available cash and long-term financial goals when deciding.
Longer loan terms mean lower monthly payments but significantly more total interest paid over the life of the loan. A 72-month loan typically costs thousands more in interest than a 48-month loan for the same amount.
A larger down payment reduces your loan amount, monthly payment, and total interest paid. It also helps you avoid being upside down on your loan and may qualify you for better interest rates.
Your trade-in value reduces the amount you need to finance, but any remaining balance owed on your trade-in gets added to your new loan. The net trade-in value (value minus what you owe) is what actually helps reduce your loan.
Yes, making extra payments toward principal or paying off early can save thousands in interest. Most auto loans don't have prepayment penalties, but check your loan terms to be sure.