Auto Loan Calculator — Car Payment & Total Interest
With average new-car payments above $700/month, the loan structure matters as much as the sticker price. Enter the vehicle price, your down payment and trade-in, and the APR you're offered to see your payment and the total interest you'll hand the lender.
- Amount financed
- $31,000.00
- Total interest
- $5,830.23
- Total cost (price + interest)
- $40,830.23
How this calculator works
- The amount financed (price minus down payment and trade-in) is amortized over the term at your APR — the same formula as a mortgage.
- Longer terms lower the payment but raise total interest and the risk of being underwater (owing more than the car is worth). Sales tax and fees are often rolled in; add them to price for accuracy.
Frequently asked questions
What's a good APR for a car loan?
In 2026, strong credit (720+) typically sees ~5.5–7% on new cars; subprime borrowers can face 12–20%. Credit unions frequently beat dealer financing — get pre-approved before you shop.
72 or 84-month loans — bad idea?
They fit expensive cars into monthly budgets but cost far more interest, and cars depreciate faster than long loans amortize. If you need 84 months to afford it, consider a cheaper car.
Should I put money down?
10–20% down offsets immediate depreciation and keeps you from being underwater. It also frequently earns a better rate tier.
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Disclaimer: Results are estimates for educational purposes only and are not tax, legal, or financial advice. Tax rules are simplified (credits, phase-outs, and local taxes may not be modeled). Verify important decisions with the IRS, your state tax authority, or a licensed professional.