Auto Loan Calculator

What does an auto loan calculator do?

Our auto loan payment calculator can help estimate the monthly payments for your next vehicle. Enter the details about your down payment, the cost of the car, the loan term, and more. You'll see how these factors may affect your monthly outlay.

How much can I afford per month?

Personal finance advisers suggest limiting your monthly car budget to less than 20% of your take-home pay. Your car budget includes car payments, auto insurance, gas, maintenance, and repairs. Learn about the cost to own evaluation to help calculate this budget.

With an idea of budget in mind, you're ready to use our auto loan calculator to crunch the numbers and show you how much you can expect to pay monthly. Curious to see how a car's value will change over time? Use our depreciation calculator.

When selecting loan lengths, be mindful that you can finance almost anything if you stretch the payments out far enough, but that is not advisable, as depreciation could leave you owing more than the vehicle is worth when you go to trade it in.

Beyond price, what factors affect monthly payments?

The two most significant factors will be the interest rate on the loan and the loan term (i.e., how many months you will spend paying it back). There are other considerations our calculator points toward. You can also include how much you owe on your current vehicle. If you have money for a down payment, you can also add that. Following links on the calculator, you can explore your car's trade-in value or request an Instant Cash Offer from local dealers. For more background, see What Is an Auto Loan?