Is a longer term better?

It lowers the monthly payment but increases total interest, and you may owe more than the car is worth for longer.

How is the amount financed worked out?

Price minus down payment minus trade-in value.

Does this include sales tax and fees?

No. Add them to the price if they are being financed.

All tools

Auto Loan Calculator

Enter the car price, your down payment, any trade-in and the loan terms to see the monthly payment and total interest.

Vehicle & Loan Details

Vehicle price

Down payment

Trade-in value

Interest rate (% per year)

Term

Work out the monthly payment, total interest and repayment total for car finance from vehicle price, deposit, trade-in value, rate and term.

Formula

amount financed = price − deposit − trade-in. Monthly payment = P × r × (1+r)^n ÷ ((1+r)^n − 1) with r = annual ÷ 12 ÷ 100.

Reference Values

•Common terms: 36–72 months
•20% deposit is a common benchmark
•Longer terms mean more total interest

FAQ

Common questions about Auto Loan Calculator

How we calculate this

We use the standard published formula for this calculation, and we show the working so you can check it.

Spotted a mistake? Tell us and we'll check it within a few days. See how we check our calculators.

Financial disclaimer

Results are estimates based on the numbers you enter. Real products have fees, rate changes and rules this tool does not model. Check figures with your lender or a qualified adviser before you decide.